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In this video, we will look at Sample Question 85 from the Society of Actuaries' Exam P (Probability) list of sample questions.
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The total claim amount for a health insurance policy follows a distribution with density
function
The premium for the policy is set at the expected total claim amount plus 100.
If 100 policies are sold, calculate the approximate probability that the insurance company
will have claims exceeding the premiums collected.
(A) 0.001
(B) 0.159
(C) 0.333
(D) 0.407
(E) 0.460
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