1. An insurance company has 12 policyholders who are considered to be high risk. The probability that one of these clients will file a major claim in the next year is 0.23. Assuming a binomial distribution,
2. What is the probability that exactly 3 of them will file a major claim in the next year?
3. What is the probability that less than 3 will make a major claim in the next year?
4. What is the probability that more than 3 of them will file a claim in the next
5. year?
6. What are the mean, variance & standard deviation of the number of claims that
7. will be filed next year?