Probability: Insurance Company & Geographical Region
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See Table 2C attached.
The table gives a number of claims at a large insurance company by kind of geographical region.
East South Midwest West Totals
Hospitalization 102 98 39 62 301
Physician's Visit 263 514 120 351 1248
Outpatient Treatment 100 226 65 99 490
Totals 465 838 224 512 2039
A) Referring to the table, if a bill is selected at random what is the probability that it is either from East or from West.
B) Referring to the table, given that the bill is from Midwest, what is the probability that it is for Physician visit.
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Solution Summary
The solution provides step-by-step method for the calculation of probabilities and conditional probabilities. Formula for the calculation and Interpretations of the results are also included.
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Applied managerial statistics
Referring to table 2C attached
gives a number of claims at a large insurance company by kind of geographical region
A). Referring to the ...
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