Mathematics, 18.08.2020 14:01 HighSchool97654
A company prices its tornado insurance using the following assumptions:
• In any calendar year, there can be at most one tornado.
• In any calendar year, the probability of a tornado is 0.11.
• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.
Required:
Using the company's assumptions, calculate the probability that there are fewer than 3 tornadoes in a 14-year period.
Answers: 3
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A company prices its tornado insurance using the following assumptions:
• In any calendar year, the...
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