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IAG insurance finds that 2/3 of existing customers who are telephoned about rolling over their insurance contracts within two weeks of their current contract expiring,

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IAG insurance finds that 2/3 of existing customers who are telephoned about rolling over their insurance contracts within two weeks of their current contract expiring, will end up renewing their contract for a further 12 months during the same phone call. Bob is a tele-salesman for IAG who requires 3 more renewals to reach today's target of 8 renewals. What is the probability that he will be able to complete the 3 renewals in less than six calls? If renewals are allocated randomly to Bob, indicate which probability distribution you should use to solve the problem and why? (3 marks) Provide your numerical answer to 3 decimal places showing all necessary working. (7 marks)

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