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An auditor for Health Maintenance Services of Georgia
Chapter 6, Problem 39E(choose chapter or problem)
Problem 39E
An auditor for Health Maintenance Services of Georgia reports 40 percent of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records.
a. How many of the policyholders would you expect to have filed a claim within the last year?
b. What is the probability that 10 of the selected policyholders submitted a claim last year?
c. What is the probability that 10 or more of the selected policyholders submitted a claim last year?
d. What is the probability that more than 10 of the selected policyholders submitted a claim last year?
Questions & Answers
QUESTION:
Problem 39E
An auditor for Health Maintenance Services of Georgia reports 40 percent of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records.
a. How many of the policyholders would you expect to have filed a claim within the last year?
b. What is the probability that 10 of the selected policyholders submitted a claim last year?
c. What is the probability that 10 or more of the selected policyholders submitted a claim last year?
d. What is the probability that more than 10 of the selected policyholders submitted a claim last year?
ANSWER:
Solution:
Step 1 of 4:
Here 40 percent of policyholders 55 years or older submit a claim during the year.
15 policyholders are randomly selected for company records.
- We have to find the expected number of policyholders who filed a claim within the last year.
- We have to find the probability that 10 of the selected policyholders submitted a claim last year.
- We have to find the probability that 10 or more of the selected policyholders submitted a claim last year.
- We have to find the probability that more than 10 of the selected policyholders submitted a claim last year.