Find the probability of the following: (Be sure to include all work) World Wide Insurance Company...

Find the probability of the following: (Be sure to include all work)

World Wide Insurance Company found that 53% of the residents of a city had homeowner's insurance (H) with the company. Of these clients, 27% also had automobile insurance (A) with the company. If a resident is selected at random, find the probability that the residence has both homeowner's and automobile insurance with World Wide Insurance Company.

Expert Solution

P(H) = 0.53

P(A | H) = 0.27

We have to calculate P(H A) = ?

Using multiplication rule,

P(H A) = P(A | H) * P(H)

= 0.27 * 0.53

= 0.1431

orchestra answered 2 years ago

Examine the usage of statistics and probability in vocations such as gambling and insurance. Be sure...

Examine the usage of statistics and probability in vocations such as gambling and insurance. Be sure to include boot-strap methods of prediction, the law of large numbers, and certainty and uncertainty in your response.

Liabilities of insurance companies may include all but which of the following?

Liabilities of insurance companies may include all but which of the following?Policy claims.Contract loans.Net policy reserves.Deposit-type contracts.Separate account business.

a) When all factors are taken into account, an insurance company estimates that the probability of...

a) When all factors are taken into account, an insurance company estimates that the probability of my father making a claim for damages to his pontoon boat for $5000 is 0.1, and that the probability of the pontoon boat being totally destroyed is .005. Should that tragedy happen, the company will have to pay $15,000. The company charges my father $1000 for the insurance policy. What is the expected value of this policy to my father? b) The world famous...

Code the following in C++ and make sure to include all three files required at the...

Code the following in C++ and make sure to include all three files required at the end. Hotdogs – The World’s Greatest Cost Effective Wholesome Nutritious Food Due to world food supply scarcity and the burgeoning populations of the world’s countries, your hot stand business is globalizing to satisfy the world’s desire for a cost effective wholesome nutritious food source. Market studies have shown that tens of billions of people are craving for the eponymous hotdog which will result in...

Do a hypothesis for the following, make sure to include and label all five steps: ...

Do a hypothesis for the following, make sure to include and label all five steps: Test the claim that the proportion of wins is the same whether the wear a shirt and tie or jeans and a t-shirt. Use a .05 significance level. Win Loss Suit and Tie 23 38 Jeans and T-shirt 28 24

Create an ERD (using Crow’s Foot Notation) for the following description. Be sure to include all...

Create an ERD (using Crow’s Foot Notation) for the following description. Be sure to include all necessary entities, attributes, and correct cardinality in relationships between entities. You have been asked to build a database for a sportswear company called AthFleet. The company owner needs to keep track of the customers that buy their products, the employees that work at AthFleet, the vendors that provide them with products, and the products themselves. Each vendor has contact with one employee representative and...

Make sure to include comments that explain all your steps (starts with #) Make sure to...

Make sure to include comments that explain all your steps (starts with #) Make sure to include comments that explain all your steps (starts with #) Write a program that prompts the user for a string (a sentence, a word list, single words etc.), counts the number of times each word appears and outputs the total word count and unique word count in a sorted order from high to low. The program should: Display a message stating its goal Prompt...

The options for the disbursement of life insurance death proceeds include all of the following EXCEPT:...

The options for the disbursement of life insurance death proceeds include all of the following EXCEPT: Leave with insurer to pay interest Paid in one cash payment Use to purchase paid-up insurance for the beneficiary Paid as a life income to the beneficiary, with a certain number of payments guaranteed

The main sources of health insurance in the United States include all of the following except...

The main sources of health insurance in the United States include all of the following except A. for-profit firms such as Aetna and John Hancock. B. household co-operatives, or co-ops. C. the government, through programs such as Medicare, Medicaid, and the Veterans Administration. D. non-profit firms such as the Blue Cross and Blue Shield organizations.

Show all work for credit. Be sure to label work and use sentences as appropriate to...

Show all work for credit. Be sure to label work and use sentences as appropriate to explain what steps you are taking. Be sure to clearly label any steps, results, or conclusions. Mention every single step you do. For the following function f(x) = 2x-5/x+1 Find : (a) (5 points) Find the domain (in interval notation). (b) (5 points)Find any Vertical asymptotes or holes. Provide a written explanation why you are choosing Vertical asymptote or hole. (c) (5 points)Find any...

Question