An insurance company is considering the addition of major medical coverage for a relatively rare ailment. The probability that a randomly selected individual will have the ailment is 0.002 and 2,000 individuals are included in the group that is insured in a year. a) What is the probability that between four and nine people (exclusive) in this group will have this ailment in a year? b) What is the probability that no one in a group of 2,000 people will have this ailment for three years? Assume that the group selected is independently and equally likely throughout the period of concern
An insurance company is considering the addition of major medical coverage for a relatively rare ailment. The probability that a randomly selected individual will have the ailment is 0.002 and 2,000 individuals are included in the group that is insured in a year. a) What is the probability that between four and nine people (exclusive) in this group will have this ailment in a year? b) What is the probability that no one in a group of 2,000 people will have this ailment for three years? Assume that the group selected is independently and equally likely throughout the period of concern
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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An insurance company is considering the addition of major medical coverage for a relatively
rare ailment. The
and 2,000 individuals are included in the group that is insured in a year.
a) What is the probability that between four and nine people (exclusive) in this group will have this ailment in a year?
b) What is the probability that no one in a group of 2,000 people will have this ailment for three years? Assume that the group selected is independently and equally likely throughout the period of concern.
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