An insurance company has 80 policy holders, each with an independent probability of 0.03 of filing a claim. Given that at least two policy holders file a claim, what is the probability that exactly three or four

An insurance company has 80 policy holders, each with an independent probability of 0.03 of filing a claim. Given that at least two policy holders file a claim, what is the probability that exactly three or four

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

100%

An insurance company has 80 policy holders, each with an independent probability of 0.03
of filing a claim. Given that at least two policy holders file a claim, what is the probability
that exactly three or four file a claim?

Expert Solution

Step 1

Given that

Number of trials n=80

Success of probability p=0.03

X~binomial (n,p)

ⁿC_x=n!/x!(n-x)!

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