# Question: Assume that an insurance company knows the following probabilities relating

Assume that an insurance company knows the following probabilities relating to automobile accidents (where the second column refers to the probability that the policyholder has at least one accident during the annual policy period):

A randomly selected driver from the company’s insured drivers has an accident. What is the conditional probability that the driver is in the 16–25 age group?

A randomly selected driver from the company’s insured drivers has an accident. What is the conditional probability that the driver is in the 16–25 age group?

**View Solution:**## Answer to relevant Questions

A life insurance company issues standard, preferred, and ultra-preferred policies. Of the company’s policyholders of a certain age, 60% have standard policies and a probability of 0.01 of dying in the next year, 30% have ... From the set {1, 2, 3,... , n}, k distinct integers are selected at random and arranged in numerical order (from lowest to highest). Let P(i, r, k, n) denote the probability that integer i is in position r. For example, ...Let the random variable X have the pmf Compute E(X), E(X2), and E(3X2 − 2X + 4). For each of the following distributions, find μ = E(X), E[X(X− 1)], and σ2 = E[X(X− 1)] + E(X) − μ2: Suppose that in Exercise 2.4-1, X = 1 if a red ball is drawn and X = −1 if a white ball is drawn. Give the pmf, mean, and variance of X.Post your question