An actuary studied the likelihood of accidents in a one-year period among a large group of...
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An actuary studied the likelihood of accidents in a one-year period among a large group of insured drivers. The following table gives the results. Age Group Percent of Drivers Probability of 0 Accidents Probability of 1 Accident 16-20 21-30 31-50 51-70 71+ 15% 25% 35% 20% 5% 0.20 0.35 0.60 0.67 0.50 0.25 0.40 0.30 0.23 0.35 Suppose that a randomly selected insured driver in the studied group had at least 2 accidents in the past year. Calculate the probability that the insured driver is in the age group 21-30. An actuary studied the likelihood of accidents in a one-year period among a large group of insured drivers. The following table gives the results. Age Group Percent of Drivers Probability of 0 Accidents Probability of 1 Accident 16-20 21-30 31-50 51-70 71+ 15% 25% 35% 20% 5% 0.20 0.35 0.60 0.67 0.50 0.25 0.40 0.30 0.23 0.35 Suppose that a randomly selected insured driver in the studied group had at least 2 accidents in the past year. Calculate the probability that the insured driver is in the age group 21-30.
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Related Book For
Marketing Research
ISBN: 9781119497639
13th Edition
Authors: V. Kumar, Robert P. Leone, David A. Aaker, George S. Day
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