4 Answered Questions for the topic Probability Model

06/21/18

Calculate the expected amount paid

The owner of a grocery shop buys a policy to insure its revenue in the event of catastrophes (e.g. earthquakes, snowstorms etc.) that shut down the business.  The policy pays nothing for the first... more
Probability Model

01/21/17

A jar consist of 3 red marbles, 2 blue marbles, and 5 green marbles. A marble is selected at random from the jar. Create a probability model for this experiment

A jar consist of 3 red marbles, 2 blue marbles, and 5 green marbles. A marble is selected at random from the jar. Create a probability model for this experiment
Probability Model

05/24/14

help will probablity

  one card is drawn from a deck of 52.  what is the probability that it is (written as fraction)   a.  a diamond  ?   b.  a king  ?   c.  an ace or king  ?     I have:   a.  P(A) = P(1)... more
Probability Model Statistics Probability Cards

01/03/13

How do I create a probability model?

You draw a card from a deck If you get a red card ou win nothing. If you get a spade you win $5. If you draw a club you win $10 plus an extra $20 for the ace of clubs. Create a probablity model for... more

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