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Elementary Statistics: A Step By Step Approach | 9th Edition | ISBN: 9780073534985 | Authors: Allan Bluman
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Automobile Insurance An insurance company classifies

Chapter 4, Problem 21E

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QUESTION:

Problem 21E

Automobile Insurance An insurance company classifies drivers as low-risk, medium-risk, and high-risk. Of those insured, 60% are low-risk. 30% are medium-risk, and 10% are high-risk. After a study, the company finds that during a 1-year period, 1% of the low-risk drivers had an accident. 5% of the medium-risk drivers had an accident, and 9% of the high-risk drivers had an accident. If a driver is selected at random, find the probability that the driver will have had an accident during the year.

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QUESTION:

Problem 21E

Automobile Insurance An insurance company classifies drivers as low-risk, medium-risk, and high-risk. Of those insured, 60% are low-risk. 30% are medium-risk, and 10% are high-risk. After a study, the company finds that during a 1-year period, 1% of the low-risk drivers had an accident. 5% of the medium-risk drivers had an accident, and 9% of the high-risk drivers had an accident. If a driver is selected at random, find the probability that the driver will have had an accident during the year.

ANSWER:

Solution

Step 1 of 1

We have to find the probability of the driver will have an accident during the year

There are 60% are low risk drivers

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