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A life insurance company has determined that each week an average of seven claims is filed in its Nashville branch.
A life insurance company has determined that each week an average of seven claims is filed in its Nashville branch. in an effort to develop a staffin plan, discuss what frequency of claims may be useful to ensure a reasonable level of service to the customer (assume a certains staff is required to handle each claim). Describe what criteria were used to determine your selected level of service. Extend your answer with statistics on several claim volumes.