Question
(a) If 10 auto insurance claims are taken at random, use the binomial distribution to determine the probability that:
(i) at least 6 claims are fraudulent
(ii) at most 3 claims are fraudulent
(iii) anywhere between 5 and 8 (inclusive) claims are fraudulent
(iv) at least 1 claim is fraudulent
(i) at least 6 claims are fraudulent
(ii) at most 3 claims are fraudulent
(iii) anywhere between 5 and 8 (inclusive) claims are fraudulent
(iv) at least 1 claim is fraudulent