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An insurance company/organization takes a keen interest in the age at which a person is insured. Thus a survey conducted on prospective clients indicated that for clients having the similar age the probability that they will be alive in 30 years time. This probability was established by utilizing the actuarial tables. If a sample of 5 people was insured still, determine the probability of having the given possible outcomes in 30 years
a) All are alive
b) At least 3 are alive
c) Mostly one is alive
d) None is alive
e) At least 1 is alive
Sample size = 5
P(alive) p = 2/3 where P (not alive) = q = 1/3
Volumes of Solids of Revolution / Method of Rings In this section we will begin looking at the volume of solid of revolution. We have to first describe just what a solid of rev
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Explain Analytical Models in Operations Research with Application
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Raghav buys a shop for Rs.1,20,000.He pays half the balance of the amount in cash and agrees to pay the balance in 12 annual instalments of Rs.5000 each. If the rate of interest is
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(x+y+1)dy/dx=1
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