During a recent period of high unemployment, hundreds of thousands of drivers dropped their automobile insurance. Sample data representative of the national automobile insurance coverage for individuals 18 years of age and older are shown here.
Automobile Insurance
Yes No
Age 18 to 34 1500 340
35 and over 1900 260
Develop a joint probability table for these data and use the table to answer the remaining questions. If required, round your answers to three decimal places.
Automobile Insurance Coverage
Yes No Total
Age 18 to 34
35 and over
Total
What do the marginal probabilities tell you about the age of the U.S. population?
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What is the probability that a randomly selected individual does not have automobile insurance coverage? If required, round your answer to three decimal places.
If the individual is between the ages of 18 and 34, what is the probability that the individual does not have automobile insurance coverage? If required, round your answer to three decimal places.
If the individual is age 35 or over, what is the probability that the individual does not have automobile insurance coverage? If required, round your answer to three decimal places.
If the individual does not have automobile insurance, what is the probability that the individual is in the 18-34 age group? If required, round your answer to three decimal places.
What does the probability information tell you about automobile insurance coverage in the United States?
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