Probability in Insurance

A poll was taken of 121,973 people in the United States aged 15-44 to determine their health insurance status. The participants were classified by gender and by type of insurance coverage. The results were as follows. A person is selected at random. Compute the following probability: The person is female or has private insurance.

• .8417

• .0781

• .7657

• .6876

A poll was taken of 121,973 people in the United States aged 15-44 to determine their health insurance status. The participants were classified by gender and by type of insurance coverage. The results were as follows. A person is selected at random. Compute the following probability: The person has private insurance or medicaid.

• .8417

• .0781

• .7657

• .6876

According to the survey ...

What is the probability of having an accident?​ ​ (a)  

What is the probability of never having an accident?​ (b)  

What is the probability of an SUV having an accident?​ (c)  

• 48%

• 52%

• 32%

• 10%

• 75%

• 90%

According to the survey ...

What is the probability of having an accident among sports cars?​ ​ (a)  

What is the probability of never having an accident among sedans?​ (b)  

What is the probability of being an SUV given that you had an accident?​ (c)  

• 48%

• 39%

• 21%

• 10%

• 75%

• 90%

If P(A) = 0.24, P(B) = 0.41, and P(A and B) = 0.18, what is P(A or B)?

• 0.17

• 0.47

• 0.59

• 0.65

An insurance company selected 2000 drivers at random (i.e., without any preference of one driver over another) in a particular city to find a relationship between age and accidents. The data obtained are given in the following table :Find the probability of the following events for a driver-selected at random from the city : being 18 – 29 years of age and having exactly 3 accidents in one year.

• 60/2000

• 20/2000

• 70/2000

• 28/2000

An insurance company selected 2000 drivers at random (i.e., without any preference of one driver over another) in a particular city to find a relationship between age and accidents. The data obtained are given in the following table :Find the probability of the following events for a driver-selected at random from the city : being 30 – 50 years of age and having one or more accidents in a year.

• 118/2000

• 65/2000

• 204/2000

• 224/2000