Exhibit 4-5

question 65

Short Answer

Exhibit 4-5.The following contingency table provides frequencies for the preferred type of exercise for people under the age of 35 and those 35 years of age or older.Here xx and yy represent missing values. Refer to Exhibit 4-5.Compute the probability that an individual is under 35 and prefers running.

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Definitions:

Mandated by Statute

Required or enforced by law, typically referring to obligations or actions prescribed by legislative statues.

Insurable Interest

A stake in the continued existence of the person or property insured, sufficient to qualify for purchasing insurance to protect against losses related to that interest.

Insurance Policy

A contract between an insurer and a policyholder that outlines the terms and conditions under which the insurer agrees to indemnify the insured.

Insurable Interest

A requirement indicating that a policyholder must stand to suffer a financial loss or certain types of loss from the damage or loss of the insured subject.