Insurance companies use probability and expected value to determine their rates. Suppose that 100,000 out of 1,000,000 drivers between the ages of 18 and 22 had a car accident. If the average accident cost the insurance company $1,500 and the insurance company charges $1200 for an insurance policy, what is the company’s expected profit per policy?

Solve this and show you’re work step by step ! -5 3/4+3h< 9 1/4 -

Unaware that 35% of the 10000 voters in his constituency support him, a politician decides to estimate his political strength. a sample of 200 voters shows that 40% support him. a. what is the population? b. what is the parameter of interest? state its value c. what is the statistics of the interest? state its value d. compare your answers in (b) and (c) is it surprising they are different? if the politician were to sample another 200 voters, which of the two numbers would most likely change? explain

Milk and ice cream are mixed together for a recipe. the total volume of the mixture is 1 cup. if the milk contains 2% fat, the cream contains 18% fat ,and the mixture contains 6% fat ,how much cream is in the mixture