Insurance Products and Client Statistics

The video tutorial covers question 128 from the SO Exam P, focusing on insurance types and their exclusivity. The instructor explains the problem, provides client statistics, and performs detailed calculations to solve a system of equations. The solution involves understanding the relationships between different insurance types and using linear equations to find the answer. The video concludes with a call to action for viewers to engage with the content.

What is the first step the instructor suggests before solving the problem?

• Watch the entire video.

• Pause the video and try the problem yourself.

• Read the textbook.

• Discuss with a friend.

What does it mean when insurance products are mutually exclusive?

• They can be purchased together.

• They cannot be purchased together.

• They are more expensive.

• They are less popular.

What percentage of clients have none of the three insurance products?

• 11%

• 17%

• 64%

• 35%

How many clients have auto insurance?

• 11%

• 35%

• 64%

• 17%

How does the likelihood of having homeowners insurance compare to renters insurance?

• Homeowners insurance is less likely.

• They are equally likely.

• Renters insurance is twice as likely.

• Homeowners insurance is twice as likely.

What percentage of clients have two of the insurance products?

• 17%

• 11%

• 35%

• 64%

How many clients have homeowners insurance but not auto insurance?

• 11%

• 35%

• 64%

• 17%

What is the percentage of clients with only renters insurance?

• 0.19

• 0.11

• 0.08

• 0.29

What is the percentage of clients with both auto and renters insurance?

• 0.08

• 0.19

• 0.11

• 0.29

What is the value of x in the system of equations?

• 0.2

• 0.1

• 0.4

• 0.3