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Insurance agents claim that a house owner in Manchester can expect to replace his or her cellar floor once every 10 years due to flood
Insurance agents claim that a house owner in Manchester can expect to replace his or her cellar floor once every 10 years due to flood damage. A) What is the probability that within 12 years a homeowner in Manchester will need to replace the floor twice because of flood? B) If the floods happened twice or more in the past 10 years, is it true or false that the insurance agents estimation was incorrect? And why
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