An automobile insurance company divides customers into three categories, good risks, medium risks, and poor risks. Assume
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An automobile insurance company divides customers into three categories, good risks, medium risks, and poor risks. Assume that 70% of the customers are good risks, 20% are medium risks, and 10% are poor risks. As part of an audit, one customer is chosen at random.
a. What is the probability that the customer is a good risk?
b. What is the probability that the customer is not a poor risk?
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