Solved

Determine the Required Probability by Using the Poisson Approximation to the Binomial

question 161

Multiple Choice

Determine the required probability by using the Poisson approximation to the binomial distribution. Round to threedecimal places.
-The probability that a call received by a certain switchboard will be a wrong number is 0.01. Use the Poisson approximation to the binomial distribution to find the probability that among 120 calls
Received by the switchboard, there are at least two wrong numbers.

Understand the key principles and obligations of insurance policies, including indemnity, subrogation, and the incontestability clause.

Recognize the responsibilities of insurers towards their clients, including defense and settlement efforts in third-party claims.

Comprehend the legal concepts of concurrent property ownership and the steps involved in the sale of real estate.

Identify the conditions under which an individual is deemed protected under an insurance policy.

Definitions:

Oedipus Conflict

A psychoanalytic theory proposed by Freud highlighting a child's unconscious sexual desire for the opposite-sex parent and jealousy towards the same-sex parent.

Moral Competence

The ability to make decisions based on ethical principles and to act in accordance with one's moral values.

Moral Performance

The actual behavior of an individual in ethical or moral situations, reflecting their moral principles.

Specific Situations

Particular or distinct scenarios, conditions, or cases that are clearly identified or defined.