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For there to be more than three calls before one completed survey all that is required is the first three calls not result in a completed survey. This probability is (1 − 0.25)<sup>3</sup> = 0.42. | For there to be more than three calls before one completed survey all that is required is the first three calls not result in a completed survey. This probability is (1 − 0.25)<sup>3</sup> = 0.42. | ||
{{soacopyright | 2023}} | |||
Latest revision as of 23:56, 3 May 2023
Solution: B
For there to be more than three calls before one completed survey all that is required is the first three calls not result in a completed survey. This probability is (1 − 0.25)3 = 0.42.
Copyright 2023. The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.