Excluding ob benefit coverage, approximately 55 for those aged 25 to 34, it is 2
ID: 2930092 • Letter: E
Question
Excluding ob benefit coverage, approximately 55 for those aged 25 to 34, it is 23% t adults have purchased life insurance. The likelihood that those aged 18 to 24 without lite insurance purchase li e insurance in the next year is 12% and (a) Flnd the probabllity that a randomly selected adult has not purchased life Insurance. (Give your answer correct to two declmal places.) 45 (b) What is the probability that an adult aged 18 to 24 will purchase life insurance within the next year? (Give your answer correct to two decimal places.) (c) Find the probability that a randomly selected adult will be 25 to 34 years old, does not currently have life insurance, and will purchase it within the next year. (Give your answer correct to two decimal places.) 10.35Explanation / Answer
Q1
a) P(Not purchased life insurance) = 1-P(purchased life insurance) = 1-0.55 = 0.45
b) Prob = 55% of 12% = 0.55* 0.12 = 0.066 = 6.60%
c) Prob = 45% of 23% =0.45*0.23 = 0.1035 = 10.35%
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