SOA Exam P Sample Question 190
Study guide: Exam P-1
A life insurance company has found there is a 3% probability that a randomly selected application contains an error. Assume applications are mutually independent in this respect.
An auditor randomly selects 100 applications.
Calculate the probability that 95% or less of the selected applications are error-free.
- A) 0.08
- B) 0.10
- C) 0.13
- D) 0.15
- E) 0.18
Answer this question and see the worked solution