![]() ![]() ![]() That means that, in order to pay more than 11000 dollars, either 3 or 4 of our drivers are going to have to get an accident, because if only 1 gets in an accident, then the insurance company is only paying 5000 dollars and if 2 get in an Accident they're only paying 10000, so in order to pay 11000 or more either 3 or 4 of them are going to have to get in an accident and that limits are options pretty significantly, because that means that, if 3 of them get in an accident, that means We'Re going to have 1 instance of let's say the first gets in an accident. If the insurance company only has to pay 5000 dollars per accident. Development of Accident Probability Index Using Surrogate Indicators of Chemical Accidents in Chemical Plants Authors Da-An Huh 1, Eun-Hae Huh 2, Sang-Hoon Byeon 3, Jong-Ryeul Sohn 4, Kyong Whan Moon 5 Affiliations 1 Department of Health Science, Korea University, Anam-ro 145, Seongbuk-gu, Seoul 02841, Korea. If the first 1 does get in an accident like what are the possibilities for the next 1 and what's the possibilities for the next 1, but we really don't have to because this question actually sets us up really nicely for all of the different possibilities that can Happen here specifically because it's asking us what's the probability that the insurance company is going to have to pay more than 11000 oland. So we could set up like a big decision tree here of like okay. ![]() So we have a probability question here about drivers getting in accidents, we're looking at 4 drivers that have a 70 percent chance of not getting in an accident and a 30 percent chance of getting in 1 accident next year, independent of each other, we're told each accident Cost the insurance company 51000 dollars and were asked for the probability that the insurance company is going to have to pay more than 11 on ol total for these 4 drivers next year. ![]()
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