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02-01-2023
Mathematics

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An insurance company found that 2.5% of male drivers between the ages of 18 and 25 are involved in serious accidents annually. assume that every such accident costs the company $65,000 and that a driver can only have one of these accidents in a year. (a)if the company charges $2,500 for such coverage, what is the probability that it loses money on a single policy? (b)suppose that the company writes 1,000 such policies to a collection of drivers. what is the probability that the company makes a profit on these policies? assume that the drivers don

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