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A short term insurance company receives three motor vehicle claims, on average, per day. Assume that the daily claims follow a Poisson process. a) What
A short term insurance company receives three motor vehicle claims, on average, per day. Assume that the daily claims follow a Poisson process.
a) What is the probability that more than four but less than eight motor vehicle claims will be received on any given day? (5)
b) What is the probability that more than two motor vehicle claim is received over any given period of three working days?
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