(Answered) Question a fire insurance company has high-risk medium-risk

Statistics

Question: A fire insurance company has high-risk, medium-risk, and low-risk clients, who have, respectively, probabilities .02, .01, and .0025 of filing claims within a given year. The proportions of the numbers of clients in the three categories are .10, .20, and .70, respectively. What proportion of the claims filed each year come from high-risk clients?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92540069
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

What would be the net annual cost of the following checking

What would be the net annual cost of the following checking account? Interest earnings of 3 percent with a $550 minimum balance; average monthly balance, $800; monthly service charge of $15 for falling below the minimum ...

In a sample of 41 temperature readings taken from the

In a sample of 41 temperature readings taken from the freezer of a restaurant, the mean is 29.7 degrees and the standard deviation is 2.7 degrees. What would be the 80% confidence interval for the temperatures in the fre ...

The stock of company tyk pays dividends annually with next

The stock of company TYK pays dividends annually, with next year's dividend expected to be $1 a share. For the next seven years, dividends are expected to grow at a rate of 6% a year. Thereafter, dividends are expected t ...

A stock price is currently 112 stock price move up by 10 or

A stock price is currently $112. Stock price move up by 10% or down by 14%. The risk-free interest rate is APR 2% with continuous compounding. What is the value of a six-month European put option with a strike price of $ ...

Can a business have too much money in cash meaning cash on

Can a business have too much money in Cash, meaning cash on hand as well as in checking and savings accounts? What if a business had 100 million dollars in these cash accounts but only needed half of that for what Keynes ...

You have a bag with three fair dice one is 4-sided one is

You have a bag with three fair dice. One is 4-sided, one is 6-sided, and one is 12-sided. You reach into the bag, pick one die at random, and roll it. The outcome of the roll is 4. What is the probability that you rolled ...

In a population of phd students 50 have paid assistant

In a population of Ph.D students 50% have paid assistant ships. A random sample of n=200 students are chosen. What is the expected number of students who have paid assistant ships in this sample?

Heights of women follow a normal distribution with

Heights of women follow a normal distribution with mean μ=63.6 inches and standard deviation of σ=2.5 inches. Suppose random samples of 10 women are chosen and their mean height calculated. Please calculate the mean and ...

According to a january 2013 survey by the pew research

According to a January 2013 survey by the Pew Research Center, the percentage of Americans who trust the government in Washington has decreased steadily since Bill Clinton left office.6 Today, approximately 30% of Americ ...

Is the following an example of a binomial experimentat a

Is the following an example of a binomial experiment? At a campus activities board event, an entertainer gives tickets with sequential numbers to every attendee (i.e. 1, 2, 3, 4, 5... n). Throughout the event, the entert ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert