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Cost of Probability of We need to add a third column for the products. Products Correct? Accident Accident Don't forget we need to add a
Cost of Probability of We need to add a third column for the products. Products Correct? Accident Accident Don't forget we need to add a row to account for the $1,000,000 0.00001 drivers who don't get into accidents and therefore cost the insurance company $0. $100,000 0.002 How will we determine the probability that a driver $10,000 0.065 does not get into an accident? $1,000 0.17 Recall that if you add the probabilities of all possible outcomes in a scenario, you always get 1 (or 100%). $0 So we can subtract 1 minus all the other probabilities to find the probability of no accident. Slide Score Out of 6 0 Don't round; keep all decimal places
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