Determine the probability, Mathematics

Assignment Help:

An insurance company/organization takes a keen interest in the age at which a person is insured. Thus a survey conducted on prospective clients indicated that for clients having the similar age the probability that they will be alive in 30 years time. This probability was established by utilizing the actuarial tables. If a sample of 5 people was insured still, determine the probability of having the given possible outcomes in 30 years

a) All are alive

b) At least 3 are alive

c) Mostly one is alive

d) None is alive

e) At least 1 is alive

Sample size = 5

P(alive) p = 2/3 where P (not alive) = q = 1/3


Related Discussions:- Determine the probability

Statistical inference, Statistical inference This is the process of dra...

Statistical inference This is the process of drawing conclusions about attributes of a population based upon information contained in a sample or taken from the population.

Prove that ac2 =ab2 + bc2+2bcxbd, If ABC is an obtuse angled triangle, obtu...

If ABC is an obtuse angled triangle, obtuse angled at B and if AD⊥CB Prove that AC 2 =AB 2 + BC 2 +2BCxBD Ans:    AC 2 = AD 2 + CD 2 = AD 2 + (BC + BD) 2 = A

Time table, tips to memorize my time table

tips to memorize my time table

The hurwiz method, The Hurwiz method Hurwiz method was the concept of c...

The Hurwiz method Hurwiz method was the concept of coefficient of optimism or pessimism introduced by L. Hurwicz. The decision maker takes into account both the minimum and max

integration: if f(x)+f(x+1/2) =1 find limit 0 to 2, f(x)+f(x+1/2) =1 f(x...

f(x)+f(x+1/2) =1 f(x)=1-f(x+1/2) 0∫2f(x)dx=0∫21-f(x+1/2)dx 0∫2f(x)dx=2-0∫2f(x+1/2)dx take (x+1/2)=v dx=dv 0∫2f(v)dv=2-0∫2f(v)dv 2(0∫2f(v)dv)=2 0∫2f(v)dv=1 0∫2f(x)dx=1

Which of the subsequent numbers will yield a number larger, Which of the su...

Which of the subsequent numbers will yield a number larger than 23.4 while it is multiplied by 23.4? When multiplying through a number less than 1, you get a product in which i

Value of perfect information, Value of perfect information This relates...

Value of perfect information This relates to the amount that we would pay for an item of information such would enable us to forecast the exact conditions of the market and act

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd