A jar contains 10 oranges, 4 pink, 7 black, and 5 purple marbles. If a single marble is chosen at random from the jar, what is the probability that it is black or pink?
Total number of marbles= 10+4+7+5=26 Number of favorable outcomes (black or pink marbles) =7 (black) + 4 (pink) = 11 Probability= P (black or pink) = 11/ 26 The probability that a single marble chosen at random from the jar is black or pink is 11/26
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Funds that a lender collects to pay monthly premiums in mortgage and home owners insurance, and sometimes to pay property taxes is called?
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The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
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__________ in insurance is the splitting or spreading of risk among multiple parties.
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