The Insurance Regulatory Authority regularly conducts surveys on the coverage of insurance. Latest survey indicates that...
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The Insurance Regulatory Authority regularly conducts surveys on the coverage of insurance. Latest survey indicates that 30% of population has medical insurance. Suppose a random sample of 3 persons is selected. (a) Draw a neat and complete probability tree for this problem. Show all possible outcomes and their probabilities. (b) What is the probability that only one person has medical insurance coverage? Show all calculations. (c) What is the probability that exactly two persons have medical insurance coverage? Show all calculations. [2 +2 + 2 = 6] The Insurance Regulatory Authority regularly conducts surveys on the coverage of insurance. Latest survey indicates that 30% of population has medical insurance. Suppose a random sample of 3 persons is selected. (a) Draw a neat and complete probability tree for this problem. Show all possible outcomes and their probabilities. (b) What is the probability that only one person has medical insurance coverage? Show all calculations. (c) What is the probability that exactly two persons have medical insurance coverage? Show all calculations. [2 +2 + 2 = 6]
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Related Book For
Elementary Statistics
ISBN: 978-0538733502
11th edition
Authors: Robert R. Johnson, Patricia J. Kuby
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