Safety Insurance Company Has Compiled the Following Statistics

question 48

Essay

Safety Insurance Company has compiled the following statistics.For any one year period:
The percentage of Safety's policyholders in each category are:

a.What is the probability that a randomly selected policyholder will have an accident within the next year?
b.Given that a driver has an accident,what is the probability that the driver is a male over 25?
c.Given that a driver has no accident,what is the probability the driver is a female?
d.Does knowing the fact that a driver has had no accidents give us a great deal of information regarding the driver's sex?

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Definitions:

Reverse Logistics

The process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal.

Strategic Initiative

A comprehensive plan or set of actions aimed at achieving major goals and objectives within an organization or business.

Suppliers Cooperation

The collaborative efforts between companies and their suppliers to improve product quality, reduce costs, and enhance supply chain efficiency.

Internal Supply Chain

The series of processes within a company that contribute to the production and delivery of a product, focusing on the internal flow of materials and goods.