Pset - SAMPLE PROBLEM SET EXAM P/CAS 1 1 SAMPLE PROBLEM PROBLEM SET EXAM P/CAS 1 1 A life insurer classifies insurance applicants according to the

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SAMPLE PROBLEM SET - EXAM P/CAS 1 1 © ACTEX 2005 SAMPLE PROBLEM PROBLEM SET - EXAM P/CAS 1 1. A life insurer classifies insurance applicants according to the following attributes: Q - the applicant is male L - the applicant is a homeowner Out of a large number of applicants the insurer has identified the following information: 40% of applicants are male, 40% of applicants are homeowners and 20% of applicants are female homeowners. Find the percentage of applicants who are male and do not own a home. A) .1 B) .2 C) .3 D) .4 E) .5 2. A test for a disease correctly diagnoses a diseased person as having the disease with probability .85. The test incorrectly diagnoses someone without the disease as having the disease with a probability of .10. If 1% of the people in a population have the disease, what is the chance that a person from this population who tests positive for the disease actually has the disease? A) B) C) D) E) Þ!!)& Þ!(*" Þ"!(& Þ"&!! Þ*!!! 3. A class contains 8 boys and 7 girls. The teacher selects 3 of the children at random and without replacement. Calculate the probability that number of boys selected exceeds the number of girls selected. A) B) C) D) E) &"# #) ) ")&' $' $$(& '& "& $$(& '& 4. is a continuous random variable with density function . \0 Ð B Ñ œ - / ß B " B Find . TÒ\$ l\# Ó A) B) C) D) E) "/ / / / / " " # " # # $ 5. Two players put one dollar into a pot. They decide to throw a pair of dice alternately. The first one who throws a total of 5 on both dice wins the pot. How much should the player who starts add to the pot to make this a fair game? A) B) C) D) E) *) " # ) "( "( ) * *
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2 SAMPLE PROBLEM SET - EXAM P/CAS 1 © ACTEX 2005 6. A carnival sharpshooter game charges $25 for 25 shots at a target. If the shooter hits the bullseye fewer than 5 times then he gets no prize. If he hits the bullseye 5 times he gets back $10. For each additional bullseye over 5 he gets back an additional $5. The shooter estimates that he has a .2 probability of hitting the bullseye on any given shot. What is the shooter's expected gain if he plays the game (nearest $1)?
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This note was uploaded on 03/29/2010 for the course STATISTICS 50 taught by Professor Diaz during the Spring '10 term at California State University , Monterey Bay.

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Pset - SAMPLE PROBLEM SET EXAM P/CAS 1 1 SAMPLE PROBLEM PROBLEM SET EXAM P/CAS 1 1 A life insurer classifies insurance applicants according to the

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