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The East Los Angeles Interchange is the busiest freeway interchange in the world. Last year, an average of 550,000 cars passed through the intersection per day with a standard deviation of 100,000. What is the probability more than 620,000 use the interchange on a random day? Assume the number of cars on the interchange is approximately normally distributed.
Insurance Policy
A contract between an insurer and a policyholder that specifies the terms under which the insurer agrees to compensate the policyholder for loss caused by specific events.
Declaratory Judgment Action
A legal procedure wherein the court determines the rights of parties without ordering any specific action or awarding damages.
Subrogation Action
A legal action where an insurer seeks to recover the amount of an insurance claim paid to the insured from the party responsible for causing the loss.
Indemnity Action
A legal action seeking compensation for damages or loss from another party as recompense for harm suffered.
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