Probability
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An auditor for an insurance company in Alberta reports 40 percent of the policyholders 55 years or older submit a claim during the year. 15 policyholders are randomly selected for company records
a) how many of the policyholders would you expect to have a filed a claim within the last year? Ans; 6
b) What is the probability that 10 of the selected policyholders submitted a claim last year? Ans: 0.0245
c) What is the probability that 10 or more of the selected policyholders submitted a claim last year? Ans: 0.0338
d) What is the probability that less than six of the selected policyholders submitted a claim last year? Ans: 0.4032
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Update:
The formula I have used is the same as what you have given. For example, in Part (b), I have calculated 15C10 directly
using calculator as 3003. Instead, you can do 15C10 = 15! / 10! (15 - 10)! = 3003.
Also, I have used x instead of k. That's ...
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