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An insurance company insures male and female drivers. The probability that a randomly selected insured driver |
An insurance company insures male and female drivers. The probability that a randomly selected insured driver is male and has an accident is 0.3. The probability of an insured male driver having an accident is 0.5. Calculate the probability that a randomly selected insured driver is female. OK as a question of probability. The odds of a person being male and has an accident is 0.3 This is a double probability saying AND. Therefor: (Prob male) times (Prob acc) = 0.3 Now you know the (Prob acc) is equal to 0.5 (Given in rest of question so : (Prob male) times 0.5 = 0.3 Thus (Prob male) = 0.3/0.5 = 0.6 Now the sum of all probabilties (male and female) should be one, and every person insured must be male or female, we know that: (Prob male) + (Prob female) = 1 then 0.6 + (Prob female) = 1 then (Prob female) = 1 - 0.6 = 0.4 |
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