The loss for an automobile accident for cars insured by company X is uniformly distributed from...

The loss for an automobile accident for cars insured by company X is uniformly distributed from $0 to $40,000. Find the probability that in a sample of 12 such automobile accidents that no more than 2 accidents have a loss over $32,000.

Expert Solution

orchestra answered 1 year ago

Annual automobile insurance cost for Americans is uniformly distributed from $200 to $1,182. Suppose 15 Americans...

Annual automobile insurance cost for Americans is uniformly distributed from $200 to $1,182. Suppose 15 Americans are randomly and independently sampled. What is the probability that 10 of them pay between $410 and $825 for auto insurance (round your answer to four decimal places)? Lifetime of a randomly selected Bright Star lightbulb is exponentially distributed with a mean of 400 hours. Suppose Joe has a Bright Star lightbulb that has lasted 600 hours and is still working, and Becky has...

Electric Field at a Point A -70nC charge is distributed uniformly along the x-axis from x...

Electric Field at a Point A -70nC charge is distributed uniformly along the x-axis from x = -0.8m to x = 2.6m. Consider a point at y = 1.5m on the y-axis. a) What is the x-component of the electric field at the point? b) What is the y-component of the electric field at the point? c) What is the total magnitude of the electric field at the point? Thank you

Losses are uniformly distributed on [0, m]. The insurer pays the amount of loss after a...

Losses are uniformly distributed on [0, m]. The insurer pays the amount of loss after a deductible of m/5.There is a 60% chance that the insurer pays at least 200. Find the probability that the insurer pays at least 500.

Suppose you take samples from variable X (which is uniformly distributed). How will the distribution of...

Suppose you take samples from variable X (which is uniformly distributed). How will the distribution of sample means look? Explain

An automobile insurance company has determined the accident rate (probability of having at least one accident...

An automobile insurance company has determined the accident rate (probability of having at least one accident during a year) for various age groups (see Table). Suppose that a policyholder calls in to report an accident. What is the probability that he or she is over 60? over 60 - proportion of total insured .10 & accident rate =0.06 (erased on table and could not add it back on accident ) What is the the probability that he or she is...

An insurance company states in its automobile insurance policy that in case of an accident, it...

An insurance company states in its automobile insurance policy that in case of an accident, it uses the formula P = (x - x^4/5) (y-18 / 50) to determine how much to reimburse a policyholder, where x is the value of the car at the time of the accident and y is the age of the person driving. The policyholder must sign a document indicating agreement with this procedure for determining reimbursement amounts. Joe, a 70 year old policyholder, was driving...

Random variable X is uniformly distributed over the interval [2, b]. Given: P { |X –...

Random variable X is uniformly distributed over the interval [2, b]. Given: P { |X – 4 | > 4} = 0. 8. a) Find P { 0 < X < 5}

Suppose we have a random variable X that is uniformly distributed between a = 0 and...

Suppose we have a random variable X that is uniformly distributed between a = 0 and b = 100. What is σ X? a. 0.913 b. 0.833 c. 50 d. 7.071

A random variable x is uniformly distributed between 20 and 52 . What is the expected...

A random variable x is uniformly distributed between 20 and 52 . What is the expected value of x?

The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one...

The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15. a) Show the sampling distribution of p if a random sample of 150 insured individuals is used to estimate the proportion having received at least one ticket. b) What is the probability that the sample proportion will be within +-.03 of the population proportion?

Question