Solve the Problem $\approx 85$ Drivers
B) $\approx 270$ Drivers
C) $\approx 215$

question 244

Multiple Choice

Solve the problem.
-The amount of time that goes by between a new driver getting a license and the moment the driver is involved in an accident is exponentially distributed. An insurance company observes a sample of new drivers and finds
That 60% are involved in an accident during the first 4 years after they get their driver's license. In a group of 300
New drivers, how many should the insurance company expect to be involved in an accident during the first 6.0
Years after receiving their license?

• A) \(\approx 85\) drivers
• B) \(\approx 270\) drivers
• C) \(\approx 215\) drivers
• D) \(\approx 224\) drivers

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Definitions:

Collection Float

The time period between when a check is deposited and when the funds become available in the company's account.

Cheques

Written orders to a bank to pay a specified amount from the writer's account to the person in whose name the cheque has been issued.

BAT Model

A behavioral approach to understanding and modeling how consumers make purchasing decisions, considering factors such as beliefs, attitudes, and traditions.

Disbursements

Money paid out by a business or organization for various purposes, including operating expenses, investments, and dividends.