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MATH 1324-The insurance industry has found that the probability The insurance industry has found that the probability is 0.9 that a life insurance applicant will qualify at the regular rates. Find the probabilities that of the next 10 applicants for life

24 / 01 / 2019 Assignments

This paper circulates around the core theme of MATH 1324-The insurance industry has found that the probability The insurance industry has found that the probability is 0.9 that a life insurance applicant will qualify at the regular rates. Find the probabilities that of the next 10 applicants for life together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 59. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

MATH 1324-The insurance industry has found that the probability

The insurance industry has found that the probability is 0.9 that a life insurance applicant will qualify at the regular rates. Find the probabilities that of the next 10 applicants for life insurance, the following numbers will qualify at the regular rates. There are repeated trials — the 10 applicants.There are only two possible outcomes — the applicant will qualify at the regular rates or not. We can designate success as having an applicant qualify.The trials are independent — the probabilities are the same for each applicant. The data used by insurance companies is based on huge samples.1. A. Find the probability that 8 will qualify. Round the probability to four significant digits.B. Find the probability that less than 8 will qualify. Round the probability to four significant digits.C. Find the probability that at least 3 will qualify. Round the probability to four significant digits.2. The probability that a certain machine turns out a defective item is .06. A run of 90 items is made. (Answers should be words)A. Fill in the blank: There are ____________ trials — the 90 items.B. Fill in the blank:There are only _______ possible outcomes — the item is defective or not.C. Fill in the blank: The repeated trials are ____________ — the probability remains the same for each itemNow find the required probabilities.Find the probability that exactly 5 items are defective. Round the probability to 4 significant digits.Find the probability that none of the items are defective. Round answer to 4 significant digits.Find the probability that at least 1 item is defective. Round answer to 4 significant digits.Find the probability that at most 5 items are defective. Round answer to 4 significant digits.Find the probability that at least 5 items are defective. Round answer to 4 significant digits.


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