Suppose 31 offer both retirement plans and life insurance, Ask an Expert

Statistics

The U.S. Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Only 42% offer retirement plans while 61% offer life insurance. Suppose 31% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilties:

a. The company offers a retirement plan given that they offer life insurance.
b. The company offers life insurance given that they offer a retirement plan.
c. The company offers life insurance or a retirement plan.
d. The company offers a retirement plan and does not offer life insurance.
e. The company does not offer life insurance if it is known that they offer a retirement plan.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M995293

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Consider the study of two insect populations at two exper-

Consider the study of two insect populations at two exper- imental stations. At station A, the egg hatch rate (computed from a set of 100 eggs at a time) is known to follow approximately a normal distribution with mean 6 ...

Suppose we know the following probabilitiesrepublican

Suppose we know the following probabilities: Republican Democrat Independent Female 0.076 0.191 0.006 Male 0.175 0.013 ? Enter the probability of events Democrat and Female occurring jointly with 3 decimal place accuracy ...

Note you will be limited to no more than 3 attempts for

(NOTE: You will be limited to no more than 3 attempts for credit on this problem.) Rework problem 23 from section 4.1 of your text involving a basketball player's three point shooting. Assume that his shots are Bernoulli ...

Discuss the core business objectives and the primary focus

Discuss the core business objectives and the primary focus of the financial business model.

You hold a stock with price 100 that can increase by 10 or

You hold a stock with price $100 that can increase by 10% or decrease by 10% m a year. The interest rate is 5% a) Suppose that you want to ensure that you'll get a minimum of $I00 in a year regardless of the evolution of ...

A in how many ways can 5 men and women stand in a queue in

(a) In how many ways can 5 men and women stand in a queue in such a way that no two women stand together and no two men stand together? (b) A librarian wants to put 30 different books on 3 shelves, 10 books on each shelf ...

The monthly sales demand for a new product is uncertain but

The monthly sales demand for a new product is uncertain, but it is considered to be adequately described by a normal random variable with mean 50,000 units and variance 100,000,000. (a) A factory to manufacture the new p ...

Performance scores on a motor skills task form a normal

Performance scores on a motor skills task form a normal distribution with μ = 20 and σ = 4. A psychologist is using this task to determine the extent to which increased self-awareness affects performance. The prediction ...

A clothing quality director determines the accuracy of nfl

A clothing quality director determines the accuracy of NFL Logos on t-shirts. 9% of the shirts made that day are defective. The shirts are sold in packages of 10. Find the probability that in one randomly selected packag ...

1 three-circle red-on-white is one distinctive pattern

1) Three-circle, red-on-white is one distinctive pattern painted on ceramic vessels of the Anasazi period found at an archaeological site. At one excavation, a sample of 165 potsherds indicated that 74 were of the three- ...

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