Question

The average number of claims to an insurance company is 3 demands per day. a. Find...

The average number of claims to an insurance company is 3 demands per day.

a. Find what is the probability that in a week there will be at least 5 days, 2 or 3 or 4
demands.
b. Determine the probability that in a month, at least 15 days and at most 22 days, the number of
demands is between 3 and 6 demands.
Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
An average of 3 life insurance policies are sold per week in an insurance agency. In...
An average of 3 life insurance policies are sold per week in an insurance agency. In a certain week with the assumption of conformity to the Poisson distribution, a) the probability of selling more than 1 and less than 5 policies b) Considering that a week consists of 5 working days, find the possibility of selling 1 policy on a given day.
The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims per...
The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims per hour. 1) Find the probability that there are no claims during 10 minutes 2) Find the probability that there are at least two claims during 30 minutes 3) Find the probability that there are no more than one claim during 15 minutes 4) Find the expected number of claims during a period of 2 hours
(a) In an insurance company the average number of sick leaves for an employee is 0.5...
(a) In an insurance company the average number of sick leaves for an employee is 0.5 per month. The numbers of sick leaves in different months are independent. Under appropriate assumptions about the distribution, find the probability that the number of sick leaves for an employee is at least four days in a year. Write down and justify your assumptions. (b) An insurance company has three different types of employees, with 100 people of each type. Find the probability that...
5. (2 + 3 + 3 marks) A firm receives number of calls per day that...
5. (2 + 3 + 3 marks) A firm receives number of calls per day that follows Poisson distribution with mean 0.8. Find the probability that the number of calls a. on the 4th day is 2 b. on the first 8 days totals 5. c. in the first 6 hours totals at least 2. 4.(4 + 3 marks) In an ordinary deck of 52 playing cards, if a person draws a king or a jack, he is paid $10;...
2. The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims...
2. The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims per hour. a) Find the probability that there are no claims during 10 minutes. b) Find the probability that there are at least two claims during 30 minutes. c) Find the probability that there are no more than one claim during 15 minutes. d) Find the expected number of claims during a period of 2 hours. (5)
A commuter airline receives an average of 2.3 complaints per day from its passengers. Find the...
A commuter airline receives an average of 2.3 complaints per day from its passengers. Find the probability that this airline will receive (a) exactly 5 complaints over a single day. (b) at least 2 complaints over a single day. (c) 3 or 4 complaints over 2 days.
A commuter airline receives an average of 2.3 complaints per day from its passengers. Find the...
A commuter airline receives an average of 2.3 complaints per day from its passengers. Find the probability that this airline will receive: a) exactly 5 complaints over a single day. (b) at least 2 complaints over a single day. (c) 3 or 4 complaints over 2 days
2. The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims...
2. The arrival of insurance claims follows a Poisson distribution with a rate of 7.6 claims per hour. a) Find the probability that there are no claims during 10 minutes. (10) b) Find the probability that there are at least two claims during 30 minutes. (10) c) Find the probability that there are no more than one claim during 15 minutes. (10) d) Find the expected number of claims during a period of 2 hours. (5)
3. Insurance company A claims that its customers pay less for car insurance, on average, than...
3. Insurance company A claims that its customers pay less for car insurance, on average, than customers of its competitor, Company B. You wonder if this is true, so you decide to compare the average monthly costs of similar insurance policy from the two companies. For a random sample of 9 people who buy insurance from company A, the mean cost is $152 per month with a sample standard deviation of $17. For 11 randomly selected customers of company B,...
Claims arrive to an insurance company according to a Poisson Process. The average number of claims...
Claims arrive to an insurance company according to a Poisson Process. The average number of claims reported each year is 120. Claim severities are independent and follow an Exponential distribution with an average of 160 TL. What is the expected value of total amount of claim severities in a month? ONLY ANSWER PLEASE QUICKKK
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT