4.60 An insurance company holds fraud insurance policies on 6,000 firms. In any given year the probability

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4.60 An insurance company holds fraud insurance policies on 6,000 firms. In any given year the probability that any single policy will result in a claim is 0.001. Find the probability that at least 3 claims are made in a given year. Use the Poisson approximation to the binomial distribution.

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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