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Question 34 An insurance 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 0.1. The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the insurance company's assumptions, calculate the probability that there are fewer than 2 tornadoes in a 14-year period. Round your answer to four decimal places.

Question 34 An insurance 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 0.1. The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the insurance company's assumptions, calculate the probability that there are fewer than 2 tornadoes in a 14-year period. Round your answer to four decimal places.

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 10ECP: In Example 10, researchers selected five people at random from the population. What is the...
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Question 34 An insurance 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 0.1. The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the insurance company's assumptions, calculate the probability that there are fewer than 2 tornadoes in a 14-year period. Round your answer to four decimal places.
Transcribed Image Text:Question 34 An insurance 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 0.1. The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the insurance company's assumptions, calculate the probability that there are fewer than 2 tornadoes in a 14-year period. Round your answer to four decimal places.
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