It’s unsolvable with out more context. What’s the rest of the problem.
I need a lil more information
What exactly are you looking for?
-TTL
Answer:
The answer is "0.765 and 0.2353".
Step-by-step explanation:
Please find the complete question in the attached file.
In point a:
P(a substantive term only)
P(major health insurance only)
P(both)
P(renewal) =P(insurance and renewal term only)+P (substantial and renewable health insurance only)+P (both and renew)
In point b:
In reality, the probability of having both life and major medical insurance provided the policyholder would renew next year