An Insurance Company Has Collected the Following Data on the Gender

question 36

Multiple Choice

An insurance company has collected the following data on the gender and marital status of 400 customers. Suppose that a customer is selected at random. Find the probability that the customer selected is not single.

• A) 75/400
• B) 175/400
• C) 150/500
• D) 325/500

---

Definitions:

Short-rate Penalty

A Short-rate Penalty is a fee charged to policyholders who cancel their insurance policy before it expires, calculating the refund using a method that is less favorable than pro-rata.

Annual Premiums

The amount paid on an annual basis for insurance coverage, which can pertain to various types of insurance policies.

Moving Vans

Moving Vans are large vehicles used for transporting household or commercial goods from one location to another during relocation.

Coinsurance Clause

A provision in an insurance policy requiring the policyholder to bear a portion of the covered losses in exchange for a lower premium.