Question 844230: According to automobile accident statistics, one out of every six accidents results in an insurance claim of $100 or less in property damage. Three cars insured by an insurance company are involved in different accidents. Consider these two events:
A: The majority of claims exceed $100.
B: Exactly two claims are $100 or less.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! According to automobile accident statistics, one out of every six accidents results in an insurance claim of $100 or less in property damage. Three cars insured by an insurance company are involved in different accidents. Consider these two events:
Binomial Problems with n = 3 and P(<= $100) = 1/6 ; P(> $100) = 5/6
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A: The majority of claims exceed $100.
P(2<= x <=3) = 1 - P(0<= x <=1) = 1 - binomcdf(3,5/6,1) = 0.2160
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B: Exactly two claims are $100 or less.
P(x = 2) = 3C2*(1/6)^2(5/6) = binompdf(3,1/6,2) = 0.0694
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Cheers,
Stan H.
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