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What is the probability you being in a car accident?
one in 100 or 10in a 1000
How do you calculate the statistical probability of dying in a plane crash?
You calculate the statistical probability of dying in a plane crash in the same way that you calculate the probability of anything else. You simply divide the number of expected outcomes by the number of possible outcomes. To determine the statistical probability of dying in a plane crash, you divide the number of people that have died in a plane crash by the number of people that have flown in planes. You can aggregate this anyway you want, over whatever period of time you want, so long as you properly state the conditions under which you perform your calculation.
What is the percentage of getting in a crash?
Your odds of dying in a car accident: 1 in 18,585. Your odds of dying in a plane accident: 1 in 354,319
How the probability and statistics is apply in insurance?
They are used to understand how to set insurance premiums. Take, for example, car insurance. The probability of a new driver getting in an accident is higher than an experienced driver. The probability of a male driver getting in an accident is higher than an female driver (in general). The probability of a person who has had many claims filing another claim is higher than someone who has never filed a claim. All these data guide the insurance industry to charge higher premiums to drivers who are new, male or have filed claims in the past.
What are the chances of a fatal accident per journey if a plane has flown 7000 journeys per year for 25 years and had one fatal accident killing 113 people?
7000 x 25 = 175000 say every flight carries 113 people 175000 x 113 = 19775000 113/19775000 = 0.0000057 So every million people who fly on the plane, 5.7 may die However, the probability is almost definitely a lot less, doe to the fact the crash may have been in freak weather conditions, or other variables such as better safety procedures
