Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

15. During a recent period of high unemployment, hundreds of thousands of drivers dropped their automobile insurance. Sample data representative of the national automobile insurance

15. During a recent period of high unemployment, hundreds of thousands of drivers dropped their automobile insurance. Sample data representative of the national automobile insurance coverage for individuals 18 years of age and older are shown here.

Automobile Insurance

Yes No

18-34 1500 340

35 and over 1900 260

a. Develop a joint probability table for these data and use the table to answer the remaining questions.

b. What do the marginal probabilities tell you about the age of the U.S. population?

c. What is the probability that a randomly selected individual does not have automobile insurance coverage?

d. If the individual is between the ages of 18 and 34, what is the probability that the individual does not have automobile insurance coverage?

e. If the individual is age 35 or over, what is the probability that the individual does not have automobile insurance coverage?

f. If the individual does not have automobile insurance, what is the probability that the individual is in the 18-34 age group?

g. What does the probability information tell you about automobile insurance coverage in the United States?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra 1

Authors: Mary P. Dolciani, Richard A. Swanson

(McDougal Littell High School Math)

9780395535899, 0395535891

More Books

Students also viewed these Mathematics questions