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A life insurance company has determined that each week an average of 7 claims is filed in its Nashville branch. What is the probability that during the next week no claims will be filed?   A 0.0009   B 0.149   C 0.0818   D 0.001 Using Poisson distributionDefine event X, Interveral, Average weekly claim =, f(x) on Excel

A life insurance company has determined that each week an average of 7 claims is filed in its Nashville branch. What is the probability that during the next week no claims will be filed?   A 0.0009   B 0.149   C 0.0818   D 0.001 Using Poisson distributionDefine event X, Interveral, Average weekly claim =, f(x) on Excel

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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  1. A life insurance company has determined that each week an average of 7 claims is filed in its Nashville branch.

    What is the probability that during the next week no claims will be filed?

      A

    0.0009
      B

    0.149
      C

    0.0818
      D

    0.001

    Using Poisson distribution

    Define event X, Interveral, Average weekly claim =, f(x) on Excel

     

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