Mathematics Homework Help. stats question
1.An insurance company sells a one year term life insurance policy to an 80 year old woman. The woman pays a premium is $1000. If she dies within one year, the company will pay $20,000 to her beneficiary. According to the U.S. Center of Disease Control and Prevention, the probability than an 80 year-old woman will be alive one year later is .9516. Let X be the profit made by the insurance company.
a. Give the probability distribution of the above scenario
b. Find the expected value of the profit
2. The United States Postal Service reports 95% of first-class mail within the same city is delivered within two days of the time of mailing. Six letters are randomly sent to different locations.
a. What is the probability that all six arrive within two days?
b. What is the probability that less than five arrive two days?
c. What is the probability that more than five arrive two days?
3. An American Society of Investors survey found 30% of individual investors have used a discount broker. In a random sample of nine individuals, what is the probability:
a. Exactly two of the sampled individuals have used a discount broker?
b. Exactly four of them have used a discount broker?
c. None of them have used a discount broker?
d. Less than 5 of then have used a discount broker
Rubric
Chapter exercises
| Criteria | Ratings | Pts | ||
|---|---|---|---|---|
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This criterion is linked to a Learning OutcomeCompletion of ProblemsStudent has completely answered the given prompt with correct information or correct answers |
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10 pts |
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This criterion is linked to a Learning Outcomework ShownStudent has shown clear and leading logical steps for each problem |
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5 pts |
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This criterion is linked to a Learning OutcomeNeat and organizedWork is neatly organized with clear direction of the beginning middle and end of each problem |
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5 pts |
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Total Points: 20 |
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