Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 item

Now 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.

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_2

Step: 3

blur-text-image_3

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

Calculus Early Transcendentals

Authors: James Stewart

7th edition

538497904, 978-0538497909

More Books

Students also viewed these Mathematics questions