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An insurance company is assessing the risk of selling flood insurance. Under the company's policies, if a customer lives in an area where they have
An insurance company is assessing the risk of selling flood insurance. Under the company's policies, if a customer lives in an area where they have a greater than5% chance of experiencing4 or more floods in10 years, the customer must pay a higher premium. Drew lives in an area where the average number of floods per10 years is1.6 floods. Will Drew have to pay the higher premium for flood insurance?Use Excel to find the probability.
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