A company prices its tornado insurance using the following...

Question
Asked by ramrumelk on coursehero.com

# A company prices its tornado insurance using the following...

A company prices its tornado insurance using the following assumptions:
• In any calendar year, there can be at most one tornado.
• In any calendar year, the probability of a tornado is 0.07.
• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.
Using the company's assumptions, calculate the probability that there are fewer than 3 tornadoes in a 13-year period.Round your answer to 4 decimals.

## Answer & Explanation

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Answered by ChancellorStraw6138 on coursehero.com

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10,000 step-by-step explanations

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## Step-by-step explanation

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