An insurance company found that one of 5,000 50-year-old, nonsmoking males will suffer a heart attack in
Question:
An insurance company found that one of 5,000 50-year-old, nonsmoking males will suffer a heart attack in a given year. The company has 50,000 50-year-old, nonsmoking male policyholders. What is the probability that fewer than three such policyholders will suffer a heart attack this year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
This is a problem that can be solved using the Poisson distribution a probability distribution that ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
Question Posted:
Students also viewed these Business questions
-
A pharmaceutical researcher working on a cure for baldness noticed that middle-aged men who are balding at the crown of their head have a 45% probability of suffering a heart attack over the next...
-
Write below the MATLAB commands needed for a script file to compute the integral for a. f(x) = xsin(x) on the interval [2,7] with n= 500. %3D b. Use the script file in 4a. to compute an approximation...
-
An insurance company found that 2.5% of male drivers between the ages of 18 and 25 are involved in serious accidents annually. To simplify the analysis, assume that every such accident costs the...
-
With only a straightedge and compass, use a number line and the Pythagorean theorem to construct a segment whose length is 2. Measure the segment as accurately as possible, and write your answer in...
-
Suppose at the end of the meeting that Jack agrees to offer the restaurant buyout, including the non-competition agreement. Prior to Jack and Sophia agreeing to the offer, however, Jack changes his...
-
Cradock Ltd has had a windfall gain of \($4\) million on a major foreign currency transaction. A director, representing a 40 percent share ownership in Cradock suggests the \($4\) million is used to...
-
The breakeven point on a CVP graph is a. the intersection of the sales revenue line and the total expense line. b. the intersection of the fixed expense line and the total expense line. c. the...
-
Coca-Cola and PepsiCo are the leading competitors in the market for cola products. In 1960 Coca-Cola introduced Sprite, which today is the worldwide leader in the lemon-lime soft drink market and...
-
You can find this question from Excel worksheet "poison pill question". Twilight has 1,000,000 shares outstanding, and the current stock price is $25 per share. Yesterday, Activist Apollo made a...
-
A soft drink company argues that its new cola is the favorite soft drink of the next generation. Ten teenagers were picked to test-drink the cola one by one. Assume that five of them liked the new...
-
Suppose that of 40 salespersons in a company, 10 are females and the rest males. Five of them are randomly chosen to attend a seminar. What is the probability that three females and two males are...
-
"Everyone knows" that certain college majors are associated with larger salaries for graduates. Is that really so? Here are the annual salaries (in thousands of dollars) for 8 randomly selected...
-
what ethical considerations did Amazon have to address when concerns were raised about poor working conditions and employee rights in its fulfillment centers, and how did the company respond to those...
-
What is your approach to problem-solving? Give an example of where your approach has been effective. Would you like to change some parts of your approach?
-
4 -2 0 2 0 AR(1) Model, p = 0.5 GANAN KARLAAAANA 200 400 Time 600 800 1000 Describe in detail the three (3) characteristics of time-series data. Given the graph of an AR(1) process shown above,...
-
which model of church government by Welch support church Administration?
-
What is 1 strategy that can be implemented to enhance the recruitment, training, and retention of diverse professionals in the field, ensuring a more representative workforce that can effectively...
-
What are the advantages of Web-based survey research over traditional survey research?
-
Frontland Advertising creates, plans, and handles advertising campaigns in a three-state area. Recently, Frontland had to replace an inexperienced office worker in charge of bookkeeping because of...
-
Corporate sustainability refers to business practices designed around social and environmental considerations (e.g., going green). Business and Society (March 2011) published a paper on how firm size...
-
The optimal scheduling of preventative maintenance tests of some (but not all) of n independently operating components was developed in Reliability Engineering and System Safety (Jan., 2006). The...
-
Use Theorem 4.4 to calculate the variance of the probability distribution in Exercise 4.12. Verify that your result agrees with Exercise 4.12. Data from Exercise 4.12 According to an August, 2011...
-
Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Budgeted...
-
how would a kantian critique the message in "An African message for America" that we should help locally ratehr than internationally ?
-
Page No. Date (6) On 30 september 2014, Razor's closing inventory was counted and valved at its cast of Tas I million inventory which had cost demaged Some item T2s 210,000 Gad been in a flood Con is...
Study smarter with the SolutionInn App