Question: this question is from Managerial Decisions Under Uncertainity by BRUCE F.BAIRD 2.22 For a certain year, an insurance company has classified the accident record of

this question is from Managerial Decisions Under Uncertainity by BRUCE F.BAIRD

2.22 For a certain year, an insurance company has classified the accident record of 500 drivers according to the size of the car insured and the length of time the driver has been licensed to drive as shown in the accompanying table. Golf Performance Day at the Office Fantastic Usual Poor Total Good 0.05 0.15 0.10 0.30 Average 0.10 0.15 0. 10 0.35 Lousy 0.20 0.10 0.05 0.35 Total 0.35 0.40 0.25 For this group of drivers: (a) What is the probability that a driver had no accidents? What type of probability is this (marginal, conditional, or joint)? Why? (b) What is the probability that a new driver had at least one accident? What type of probabilty is this? Why? (c) What is the probability that the driver had no accidents and drove a small car? What type of probability is this? Why? (d) Is the occurrence of at least one accident and the size of car indepen dent or dependent events? Why? (e) Is the occurrence of at least one accident and the experience of the driver independent or dependent events? Why? (f) Is the occurrence of at least one accident independent of both the size of the car and the experience of the driver? Please discuss your conclusion

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