# (b) A company prices its hurricane insurance usng the following assumptsons (i) In any calendar year,...

###### Question:

(b) A company prices its hurricane insurance usng the following assumptsons (i) In any calendar year, there can be at most one hurricane (1) In any calendar year, the probability of a hurricane is 0.05 (iii) The mumber of hurricanes in any calendar year is independent of the number of hurricanes in any other calendar year e .os Using the company's assumptions, for a 20-year period i (10 points) what are the expected value and standard deviation of the number of hurricanes?
ii. (6 points) calculate the probability that there are fewer than 3 hurricanes. /-X

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