# Statistics Problem: Binomial Probability? related questions

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Statistics Problem: Binomial Probability? | 0 | saffron | 2012-07-27 13:02:01 |

A January 2005 survey of bikers, commissioned by the Progressive Group of Insurance Companies, showed that 40% of bikers have body art, such as tatoos and piercings. A group of 10 bikers are in the process of buying motorcycle insurance. a. What is the probability that exactly 3 have any body art? b. What is the probability that no more than 2 have any body art? | |||

statistics binomial probability | 0 | 2018-02-21 18:09:50 | |

A survey of bikers, commissioned by an insurance company, showed that 40% of bikers have body art, such as tattoos and piercings. A group of 11 bikers are in the process of buying motorcycle insurance. (Give your answers correct to three decimal places. | |||

Help with probability in statistics? | 1 | Kaity | 2012-07-31 00:36:57 |

State studies show that the Colorado Farm Insurance , 46 % of auto insurance claims filed for property damage were filed by men under 25 years of age. Suppose 8 property damage claims involving cars are randomly selected What is the probability that five or more claims are made by men under 25 ? ( Use 3 decimal places). | |||

Statistics Probability Help? | 0 | cheerlovee | 2012-07-19 20:46:02 |

In one town, 75% of adults have health insurance. What is the probability that 12 adults selected at random from the town all have health insurance? What is the probability that 12 adults selected at random from the town, at least 3 have health insurance? What is the probability that 12 adults selected at random from the town, no more than 5 have health insurance? | |||

Statistics - Probability Question PLEASE HELP? | 1 | brenton atcheson | 2017-07-09 20:53:02 |

Hi, Can someone please help me with this problem and explain how statistics do wrong? Thank you ! = ) MedlinePlus MedlinePlus An auto insurance company keeps track of the demographics of the people who file claims . For each statement that informs the driver's gender ( male or female) and driver age group ( registered as a young , middle-aged and elderly) . For a particular claim , the company 's experience, MedlinePlus - The likelihood of this person is a female is third - The probability that a person is young or an older driver is 0.81 MedlinePlus - The probability that the person is a young driver is 0.46 MedlinePlus - The probability that the person is a young woman is 0.2 MedlinePlus - The probability that the person is an older driver or a male is 0.77 MedlinePlus MedlinePlus Given this information , answer the following . MedlinePlus a) What is the probability that the taxpayer claims a male driver ? MedlinePlus b ) What is the probability that the taxpayer claims a older driver ? MedlinePlus c ) What is the probability that the respondent 's claim young driver or a woman ? MedlinePlus d ) What is the probability that the taxpayer claims a old male driver ? | |||

Simple probability/statistics question.? | 0 | elizabeth Sosnovskiy | 2012-09-17 18:45:05 |

What would you take for the Z value in this question? In a random sample of 10,000 claims filed against an automobile insurance company,75% exceeded $300. What is the probability that of the next 400 claims filed more than 72% will be above $300? The book says Pr[Z> 287.5-300/8.66] should it not be [288-300]/8.66 ? Thank you. | |||

How do insurance co use descriptive statistics & probability dist. to project health & auto insuranc premiums? | 0 | Flirt | 2012-07-20 08:40:03 |

How do insurance companies use descriptive statistics and probability distributions to project health and auto insurance premiums? In regards to age, why is there an inverse relationship between the two premiums? | |||

Probability Word Problem? | 0 | Jeesung | 2012-07-30 03:22:57 |

Your insurance has a policy to insure personal property. Assume you have a laptop computer worth $1,500 and there is a 2% chance that the laptop will be lost or stolen during the next year. What would be a fair premium for the insurance, assuming the company does not make a profit. | |||

What method to use on Statistics problem? | 0 | Suetusi | 2012-10-21 19:20:32 |

To set rates , an insurance company is trying to estimate the number of sick days that full-time workers in an auto shop take per day . A previous study indicated that the standard deviation was 2.8 days . What sample size should be selected if the company wants to have 95 % confidence that the true mean is within 1 day of the sample mean . | |||

Statistics estimation problem? | 4 | kelsy | 2018-02-05 08:53:03 |

Can anyone help with this estimation problem ? MedlinePlus MedlinePlus Anystate Auto Insurance Company took a random sample of 370 insurance claims paid during a period of 1 year. The average claim paid was $ 1570. Suppose a ( population standard deviation ) = $ 250. Find 0.90 and 0.99 confidence intervals for half claim payment . | |||

Statistics- Normal distribution problem that I've been stuck on for an hour.? | 4 | ineedhelp! | 2018-11-03 00:25:58 |

A relay microchip in a telecommunications satellite has a life expectancy that is normally distributed with a mean of 90 months and a standard deviation of 3.1 months . When computer malfunction relay microchip , the satellite is all useless . A large insurance company in London will ensure that the satellite for 50 million dollars. Suppose that the only part of the satellite in question is the microchip . All other components work indefinitely. MedlinePlus MedlinePlus ( A) How many months must be secured to the satellite by 98 % sure that will last far beyond insurance ? ( Round your answer to the nearest month. ) MedlinePlus MedlinePlus ( B ) If the satellite is insured for 84 months , what is the probability that a malfunction before the end of the insurance coverage ? ( Round your answer to four decimal places . ) MedlinePlus MedlinePlus ( C ) If the satellite is insured for 84 months , what is the expected loss for the insurance company ? ( Round your answer to the nearest dollar . ) MedlinePlus MedlinePlus ( D ) If the insurance company charges $ 3 million for 84 months of insurance , how much profit the company expects to do? ( Round your answer to the nearest dollar . ) MedlinePlus MedlinePlus Please explain how you found your answer! These are tasks for my online statistics course and is the only problem I do not understand. | |||

Probability problem. im not sure whether my answer correct or not. i got 0.09. is it correct? | 2 | Dara | 2017-01-04 23:09:19 |

An insurance company is in its auto insurance customers and believes that (a ) any guarantee at least one car , ( B ) 85 % said more than one car , ( C ) 23% say a sports car , ( D ) 17 % said more than one car , including a sports car. Find the probability that a randomly selected customer insures exactly one car and is not a sports car. |