PLEASE ANSWER AS SOON AS YOU SEE THIS

An insurance company issues life insurance policies in three separate categories: standard,preferred,and ultra- preferred. Of th

slega [8]

Answer:

a) 0.0002

b) 0.0057

c) 0.0364

Step-by-step explanation:

Lets start by stating the probabilities of a person belonging to each policy:

Standard: 0.3

Preferred: 0.5

Ultra- Preferred: 0.2

The probability of person belonging to each policy AND dying in the next year:

Standard: 0.3 x 0.015 = 0.0045

Preferred: 0.5 x 0.002 = 0.001

Ultra- Preferred: 0.2 x 0.001 = 0.0002

a) The probability a ultra - preferred policy holder dies in the next year is 0.001. To find the probability of a person being both a ultra - preferred policy holder AND die in the next year is: 0.001 x 0.2= 0.0002

b) The probability is given by adding the probabilities calculated before :

0.0045 + 0.001 + 0.0002 = 0.0057

c) We use the results above again. This is 0.0002 / (0.001 + 0.0045). The answer comes out to be 0.0364

6 0

3 years ago

Jenna has a piece of paper that is 84 square inches in area. it is 10 1/2 inches long. what is the length of the piece of paper

Ronch [10]

I hope this helps you

6 0

3 years ago

Minor surgery on horses under field conditions requires a reliable short-term anesthetic producing good muscle relaxation, minim

andreev551 [17]

Answer:

$p_v =P(t_{74}$

If we compare the p value and a significance level for example $\alpha=0.1$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, so we can conclude that the true mean it's not significantly less than 20 min.

Step-by-step explanation:

Data given and notation

$\bar X=18.81$ represent the average lateral recumbency for the sample

$s=8.4$ represent the sample standard deviation

$n=75$ sample size

$\mu_o =20$ represent the value that we want to test

$\alpha$ represent the significance level for the hypothesis test.

t would represent the statistic (variable of interest)

$p_v$ represent the p value for the test (variable of interest)

State the null and alternative hypotheses.

We need to apply a left tailed test.

What are H0 and Ha for this study?

Null hypothesis: $\mu \geq 20$

Alternative hypothesis : $\mu < 20$

Compute the test statistic

The statistic for this case is given by:

$t=\frac{\bar X-\mu_o}{\frac{s}{\sqrt{n}}}$ (1)

t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".

Calculate the statistic

We can replace in formula (1) the info given like this:

$t=\frac{18.81-20}{\frac{8.4}{\sqrt{75}}}=-1.227$

The degrees of freedom are given by:

$df=n-1=75-1=74$

Give the appropriate conclusion for the test

Since is a one side left tailed test the p value would be:

$p_v =P(t_{74}$

Conclusion

If we compare the p value and a significance level for example $\alpha=0.1$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, so we can conclude that the true mean it's not significantly less than 20 min.

3 0

3 years ago

What's 48 hours ahead from last night at ten? Exact hour pls?

Katena32 [7]

Tomorrow night at ten because 48 hours is two days. So two days from last night at ten.

6 0

3 years ago

Read 2 more answers

Which fraction is larger than 1/2?<br> 2/3 0r 2/4 or 2/5

nalin [4]

2/3 is the correct answer because it’s bigger then a half

6 0

2 years ago

Read 2 more answers