earthquake insurance

By admin 　

No items matching your keywords were found.

earthquake insurance
earthquake insurance
Probability mass function - Earthquake insurance?


Some regions in Japan are particularly earthquake-prone. Suppose that in one such region, 17% of all homeowners are insured against earthquake damage. 6 homeowners are to be selected at random; what is the probability that at least 3 of the 6 selected have earthquake insurance?

this is a case of the binomial distribution
n = number of "trials" = 6
p = probability of "success" in a single trial = 0.17
q = 1 - p = probability of "failure" in a single trial = 0.83

the formula for k successes in n trials is
P[k] = nCk * p^k * q^(n-k)

e.g. P[4] = 6C4 * 0.17^4 * 0.83^2 = 0.0086 or 0.86%

P[>=3] = P[3] + P[4] + P[5] + P[6]

calculate as explained above
the ans in % terms should be around 6.6%

No items matching your keywords were found.

Account limit of 2098 requests per hour exceeded.

Provider Insurance Group, Inc. - "Earthquake"

Is proposition 8 insurance against fire, pestilence, earthquake, etc?


Did The Lord promise such if we continue on our path?

It's doing what's right.

This entry was written by admin, posted on July 18, 2009 at 1:25 am, filed under Earthquake Survival Kits and tagged , , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.

2 Comments

  1. Saratica
    Posted September 13, 2010 at 9:59 pm | Permalink

    Hey, Rock, to answer your questions about cr real estate, “I've got questions for you concerning Costa Rican Real Estate: how are taxes and insurance? Is insurance mandatory down there? Just curious. Also, do most Americans use American or Costa Rican lenders? And what are the rates for Costa Rican lenders?”

    Insurance is not mandatory that I know of. We have earthquakes here, but don't think earthquake insurance is mandatory. Because there are no lenders, or very few. Interest rates are very high here (starting around 9%) and you have to put so much down. Most people take out home equity loans on their primary residence to buy for cash in cr.

  2. Shovel Ready
    Posted October 25, 2011 at 3:17 am | Permalink

    So, after years of "savings," what happens if your house burns down and you have a heart attack? Where are you going to put your $250,000… especially if you still have to pay a mortgage on a smoldering pile of cinders sitting on a plot of land?