N
Neetu Verma
Member
Please explain me how to calculate the exact value of these question:
(a ) use a normal approximation to find an approximate value for the probability that an observation from a Gamma(25,50) random variable falls between .4 and .8 .
(b) The probability of any given policy in a portfolio of term assurance policies lapsing before it expires is considered to be .15. For a group of 100 such policies , find the approximate probability that more than 20 will lapse before they expire .
(a ) use a normal approximation to find an approximate value for the probability that an observation from a Gamma(25,50) random variable falls between .4 and .8 .
(b) The probability of any given policy in a portfolio of term assurance policies lapsing before it expires is considered to be .15. For a group of 100 such policies , find the approximate probability that more than 20 will lapse before they expire .