An insurance company wants to describe the number of claims received until a "major" claim arrives. Records show that 6% of the submitted claims are equal in dollar amount to all the other claims combined.
Again, identify and enter the parameter values for the geometric distribution in Crystal Ball. In this example, the conditions show one important value: a 0.06 (6%) probability of receiving that "major" claim. The result would be a distribution showing the probability of x number of claims occurring between "major" claims.