6. A large insurance company pays out an average of 4 major medical claims in a month. Suppose that the probability of a policyholder making a major medical claim is small. (a) Approximate the probability that it pays at most 1 major medical claim in the coming month. (b) Approximate the probability that it pays at least 3 major medical claims in the coming month.
6. A large insurance company pays out an average of 4 major medical claims in a month. Suppose that the probability of a policyholder making a major medical claim is small. (a) Approximate the probability that it pays at most 1 major medical claim in the coming month. (b) Approximate the probability that it pays at least 3 major medical claims in the coming month.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Transcribed Image Text:6. A large insurance company pays out an average of 4 major medical claims in a month.
Suppose that the probability of a policyholder making a major medical claim is small.
(a) Approximate the probability that it pays at most 1 major medical claim in the
coming month.
(b) Approximate the probability that it pays at least 3 major medical claims in the
coming month.
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