A motorist makes three driving errors, each independently resulting in an accident with probability 0.25. Each...

A motorist makes three driving errors, each independently resulting in an accident with probability 0.25.

Each accident results in a loss that is exponentially distributed with mean 0.80. Losses are mutually independent and independent of the number of accidents.

The motorist's insurer reimburses 70% of each loss due to an accident.

Calculate the variance of the total unreimbursed loss the motorist experiences due to accidents resulting from these driving errors

Solutions

Expert Solution

NOTE:: I HOPE YOUR HAPPY WITH MY ANSWER....***PLEASE SUPPORT ME WITH YOUR RATING...

***PLEASE GIVE ME "LIKE"...ITS VERY IMPORTANT FOR ME NOW....PLEASE SUPPORT ME ....THANK YOU

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Suppose bit errors in a digital data file occur independently with probability p = 0.25 ·...

Suppose bit errors in a digital data file occur independently with probability p = 0.25 · 10^−6 per bit. X = number of bit errors in a 1 Mbyte data file (= 10^6 bytes) Calculate exactly or with suitable approximation (a) X's standard and standard deviation; b) the probability that at least three bit errors occur in the data file. c) Suppose that instead of an unknown parameter. A test file of size 3.85 Mbytes is checked where 10 bit...

5. Three digits are drawn at random and independently of each other, to generate one resulting...

5. Three digits are drawn at random and independently of each other, to generate one resulting 3-digit number. Each of the three digits can take the integer values 1 through 9, with each integer being equally likely to be chosen. That is, the resulting 3-digit number can take a value from 111 through 999 (but numbers that contain 0 are not possible). Calculate the following probabilities, rounding your answer to the nearest hundredth of a percent. (a) the chance that...

Three independently working elements have been installed to signal the accident, each of which is triggered...

Three independently working elements have been installed to signal the accident, each of which is triggered in an emergency with a probability of 0.6. A discrete random amount is the number of elements that worked in an accident. Find: range of distribution, numerical characteristics, F((x) Buildgraph F(x). show your work.

(A) Three marksmen fire simultaneously and independently at a target. What is the probability of the...

(A) Three marksmen fire simultaneously and independently at a target. What is the probability of the target being hit at least once, given that marksman one hits a target nine times out of ten, marksman two hits a target eight times out of ten while marksman three only hits a target one out of every two times. (B) Fifty teams compete in a student programming competition. It has been observed that 60% of the teams use the programming language C...

1. A factory manufactures machines. Each machine is defective with probability 1/100, independently. The machines get...

1. A factory manufactures machines. Each machine is defective with probability 1/100, independently. The machines get numbered 1, 2, . . . as they’re produced (a) Out of machines 1, . . . , 1000, what is the probability that none are defective? (b) Out of machines 1, . . . , 1000, what is the probability that two or fewer are defective? (c) Out of machines 1, . . . , 1000, what is the probability that exactly ten...

A 3-person jury has 2 members each of whom have independently a probability 0.7 of making...

A 3-person jury has 2 members each of whom have independently a probability 0.7 of making a correct decision. The third juror just flips a coin for each decision. In this jury, the majority rules. A 1-person jury has a probability 0.7 of making a correct decision. What is the probability of the best jury of making a correct decision?

Four varieties of soybean were planted in each of three separate regions of a field. The resulting...

Four varieties of soybean were planted in each of three separate regions of a field. The resulting yields were: Region Variety A B C D 1 45 48 43 41 2 49 45 42 39 3 38 39 35 36 Give a graphical summary of the data. From the graphic, conjecture as to whether you believe a difference exists in the four different varieties of soybean. Give 4 C’s for both a parametric and nonparametric test for these data.

Suppose you own three computers, each of which independently lasts for an exponentially distributed time with...

Suppose you own three computers, each of which independently lasts for an exponentially distributed time with a mean of 4 years. Let X(t) be the number of these computers that have broken down after t years. (a) What is the probability that all three computers are still working after six months? (b) On average, how long will it take before there is only one working computer left?

In each case, determine the value of the constant c that makes the probability statement correct....

In each case, determine the value of the constant c that makes the probability statement correct. (Round your answers to two decimal places.) (a) Φ(c) = 0.9850 (b) P(0 ≤ Z ≤ c) = 0.2939 (c) P(c ≤ Z) = 0.1251 (d) P(−c ≤ Z ≤ c) = 0.6528 (e) P(c ≤ |Z|) = 0.0128

In each case, determine the value of the constant c that makes the probability statement correct....

In each case, determine the value of the constant c that makes the probability statement correct. (Round your answers to two decimal places.) (a) Φ(c) = 0.9842 ( b) P(0 ≤ Z ≤ c) = 0.3051 (c) P(c ≤ Z) = 0.1170 ( d) P(−c ≤ Z ≤ c) = 0.6680 ( e) P(c ≤ |Z|) = 0.0160

Subjects