Two health insurance compete for the business of 1000

Last updated: 11/13/2023

Two health insurance compete for the business of 1000 customers Assume that each customer chooses between the insurance providers independently and with indifference It is also assumed that each company is capable of providing high quality service for at most N customers Parta 5 points Using a binomial model find an expression for N that will guarantee that the probability of turning away a customer because of the limited capability of the company is less than 1 Part b 5 points Use the normal approximation to get a numerical value for N