Insurance: Auto The Mountain States Office of State Farms Insurance Company repr

Question

Insurance: Auto The Mountain States Office of State Farms Insurance Company reprots that approximately 85% of all automobile damage liability claims are made by people under 25 years of age. A random sample of five automobile insurance liability claims is under study.

a) Make a histogram showing the probibility that r=0 to 5 claims are made by people under 25 years of age.

b) Find the mean and standard deviation of the is probability distribution. For samples of size 5, what is the expected number of claims made by people under 25 years of age?

Explanation / Answer

Insurance: Auto The Mountain States Office of State Farms Insurance Company repr

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