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Question 19 (1 point) On average, each insurance claim forwarded to a certain division of an insurance company has a 41% chance of getting approved
Question 19 (1 point) On average, each insurance claim forwarded to a certain division of an insurance company has a 41% chance of getting approved after the preliminary review. In addition to that, all claims forwarded to this office are assumed to be independent of each other. Suppose on a given day 5 claims are forwarded to this office. What is the probability that exactly 4 of the 5 claims will be approved after the preliminary review? Notes: 1- Your final answer should be expressed as a decimal and not a percentage. 2- Only round your final answer to 4 decimal places. Enter your final answer with 5 decimal places. Question 20 (1 point) An insurance company has a payout policy according to the following: Upon death, the company pays out $400000. For disability or a disabling accident, the company pays out $160000. Otherwise, they pay $0. Based on historical data, the probability of death of a client is 0.012. Also, the probability of disability or a disabling accident for a client is 0.071. What is the expected amount the company will have to payout for each policy? Note: 1- Do not include the dollar symbol $ or comma in your answer. For example, for $18,810 only enter 18810. Your Answer: Question 21 (1 point) A capital firm has a list of potential investors who have previously invested in new technologies. On average, each investor invests in 18.3% of the technologies presented to them. An entrepreneur decides to call potential investors. If she calls 10 investors, what is the probability that exactly 9 will be interested to invest in her new technology? Note: 1- Round all numbers [intermediate and final) to 4 decimal places. 2- Enter your final answer with 4 decimal places (it should be a decimal number and not a percentage)
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