The claim frequency [math]N[/math] has the following properties:

• The claim frequency has a geometric distribution
• The probability that [math]N=1[/math] given that [math]N\gt0[/math] equals 0.3

Determine the variance of the claim frequency given that [math]N\gt0[/math].

1. 0.4671
2. 1.19
3. 3.1477
4. 3.477
5. 7.77