On 4.98% of the policies, they will not have to pay a claim.
The possibility of the result of any random event is known as probability. This phrase refers to determining the likelihood that any given occurrence will occur. What are the chances of receiving a head, for instance, when we toss a coin in the air? The number of outcomes that could occur is the basis for the response to this question. The outcome in this case might be either head or tail. Therefore, there is a 50% chance that the result will be 1 / 2 head.
λ = 3 per year
To avoid having to pay a claim for these tubes, we need to determine the likelihood that they will live longer than a year.
Given by: The likelihood of tubes lasting longer than a year is
P(x > 1) = e^-λ*x
P(x > 1) = e³*¹ = 0.04978
Therefore, they won't be required to pay a claim on 4.98% of the policies.
To know more about Probability, refer to this link:
https://brainly.com/question/12629667
#SPJ4