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DURING A RECENT PERIOD OF HIGH UNEMPLOYMENT, HUNDREDS

DURING A RECENT PERIOD OF HIGH UNEMPLOYMENT, HUNDREDS

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Author: Christine Farr
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http://theperfecthomework.com/during-a-recent-period-of-high-unemployment-hundreds-of-thousands-of-drivers-dropped-their-automobile-insurance/


During a recent period of high unemployment, hundreds of thousands of drivers dropped their automobile insurance. Sample data representative of the national automobile insurance coverage for individuals 18 years of age and older are shown here.
 
                                             Automobile Insurance
                                                           Yes          No
18-34                                               1500        340
35 and over                                    1900        260
 
a. Develop a joint probability table for these data and use the table to answer the remaining questions.
b. What do the marginal probabilities tell you about the age of the U.S. population?
c. What is the probability that a randomly selected individual does not have automobile insurance coverage?
d. If the individual is between the ages of 18 and 34, what is the probability that the individual does not have automobile insurance coverage?
e. If the individual is age 35 or over, what is the probability that the individual does not have automobile insurance coverage?
f. If the individual does not have automobile insurance, what is the probability that the individual is in the 18-34 age group?
g. What does the probability information tell you about automobile insurance coverage in the United States?


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