Lonestar Insurance provides liability insurance to its client base of 10,442 clients. Every year, about 2,565...

Lonestar Insurance provides liability insurance to its client base of 10,442 clients. Every year, about 2,565 lawsuits are covered by Lonestar. What is the probability (in percent) that one of their clients will be served with a liability lawsuit in any given year?

Expert Solution

Lonestar Insurance provides liability insurance to its client base of 10,442 clients.

2,565 lawsuits are covered by Lonestar

Required probability = 2565/10442
= 0.2456
= 24.56%

orchestra answered 2 years ago

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