Question

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 0.09.

• 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 2 tornadoes in a 24-year period.

Answer #1

**Answer:-**

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
0.01. • 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 2 tornadoes in a 24-year period

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 0.03.
• 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 14-year period.

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
0.05. • 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 15-year period.

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 0.08.
• 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 20-year period.

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 0.08.
• 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 2 tornadoes in a 11-year period.

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
0.01.
• 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 16-year period.

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
0.15.
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 17-year period.
______________________________

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
0.08.
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 19-year period.

5. 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
0.14. • 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 10-year period.

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 0.13.
• 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.
Hint: Use the binomial distribution with n...

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