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Company ABC offers hurricane insurance to homeowners in Texas. Assume that the premium collected for hurricane insurance can be modeled by an exponential distribution with

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Company ABC offers hurricane insurance to homeowners in Texas. Assume that the premium collected for hurricane insurance can be modeled by an exponential distribution with a mean of 3. Suppose that the hurricane losses can be modeled by an Exponential distribution with a mean of 1. If the premium collected and hurricane losses are independent, what is the probability that the ratio of losses to premium collected will be greater than 1? Possible Answers

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