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The amount of annual claims per policy at a health insurance company has a normal distribution with mean $300 and standard deviation $100 Darren has a health insurance policy with this company which has an annual deductible of $200. This means that if Darren's claim in one year are less then $200, then he pays for them and the company pays nothing, but if they are over $200, then he pays $200 and the company pays the rest. What is the probability that the company will not pay anything next year against Darren's policy?
This document contains various important questions and their appropriate answers in the subject field of Economics.
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