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arlik [135]
3 years ago
10

A fire insurance company has high-risk, medium-risk, and low-risk clients, that have, respectively, probabilities 0.02, 0.01, an

d 0.0025 of filing claims within a given year. The proportions of the numbers of clients in the three categories are 0.10, 0.20, and 0.70, respectively. What is the probability that a randomly selected filed claim came from a high-risk client?
Mathematics
1 answer:
KIM [24]3 years ago
5 0

Answer:

Probability that the claim came from a high-risk client = claim from a high-risk client / claim from all clients

= 0.002 / (0.002 + 0.002 + 0.00175)

= 0.002 / 0.00575‬

= 0.3478

= 0.35

Step-by-step explanation:

Claims filed by each group of clients is gotten by multiplying the probabilities of occurrence by proportions of the number of client in the category

Claims filed by high-risk clients = 0.02 * 0.10 = 0.002‬

Claims filed by medium-risk clients = 0.01 * 0.20 = 0.002‬

Claims filed by low-risk clients = 0.0025 * 0.70 = 0.00175‬

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$12.80 would be the total cost before tax.

~

3 0
3 years ago
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An article suggested that yield strength (ksi) for A36 grade steel is normally distributed with μ = 44 and σ = 5.0. (a) What is
aalyn [17]

Answer:

Step-by-step explanation:

Using normal distribution,

z = (x - μ)/σ

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Looking at the normal distribution table,

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3 years ago
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iren [92.7K]

Hello from MrBillDoesMath!

Answer:

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Discussion:

The question asked is "About how many bunches will the farmer make?   The text "He plans to sell the carrots for $5 per bunch..." is not needed as it does not relate to the question asked.

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Answer:

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Step-by-step explanation:

Step 1: Write equation

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Step 2: Solve for <em>x</em>

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Step-by-step explanation:

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