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 0.14. • The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the company's assumptions, calculate the probability that there are fewer than 3 tornadoes in a 14-year period. Give your answer as a fraction or decimal out to at least 4 places.
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 0.14. • The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the company's assumptions, calculate the probability that there are fewer than 3 tornadoes in a 14-year period. Give your answer as a fraction or decimal out to at least 4 places.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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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
• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.
Using the company's assumptions, calculate the probability that there are fewer than 3 tornadoes in a 14-year period. Give your answer as a fraction or decimal out to at least 4 places.
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