Mathematics, 19.03.2021 03:00 ferguag15stu

Coastal Insurance Company underwrites insurance for beachfront properties along the Virginia, North and South Carolina and Georgia coasts. It uses the estimate that the probability of a named Category III hurricane or higher striking that particular region of the coast in any one year is 0.05. If a homeowner takes a 30-year mortgage on a recently purchased property, what is the likelihood that the owner will experience at least one Category III hurricane during the mortgage period

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