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    Describe costs and benefits to society from purchasing insurance.

    Describe costs and benefits to society from purchasing insurance.
  2. S

    Birthday Problem: Find the Probability of 3 People Sharing the Same Birthday

    Three people are selected at random. Find the probability that (a) all three share the same birthday: (365/365)(1/365)(1/365) = 0.00000751 (b) none of the three shares the same birthday. Assume 365 days in a year. (365/365)(364/365)(363/365) = 0.992
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