Question 245302: An insurance company has discovered that only about 0.1% of the population is involved in a certain type of accident each year. If its 10000 policy holders were randomly selected from the population, what is the probability that not more than 5 of its clients are involved in such an accident next year?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An insurance company has discovered that only about 0.1% of the population is involved in a certain type of accident each year. If its 10000 policy holders were randomly selected from the population, what is the probability that not more than 5 of its clients are involved in such an accident next year?
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It's binomial with n = 10000, p = 0.001 , 0<=x<=5
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binomcdf(10,000,0.001,5) = 0.067
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Cheers,
Stan H.
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