Global insurance has found that 20% (1 in 5) of all insurance policies are surrendered (cashed in) before their maturity date. Assume that 10 policies are randomly selected from the policies data base What is the probability that: No more than 3 of these 10 insurance policies will have been surrendered before their maturity date? No more than 3 orders will be recieved?
The Answer to the Question
is below this banner.
Can't find a solution anywhere?
NEED A FAST ANSWER TO ANY QUESTION OR ASSIGNMENT?
Get the Answers Now!You will get a detailed answer to your question or assignment in the shortest time possible.
Here's the Solution to this Question
Let the numbers of insurance policies surrendered (cashed in) before their maturity date:
Given