The expected annual medical expenses of a high-risk person is $3000 per year while that of a low-risk person is $1000 per year.
The expected annual medical expenses of a high-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 30% × $10000
= 0.3 × $10000
= $3000
The expected annual medical expenses of a low-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 10% × $10000
= 0.1 × $10000
= $1000
It should be noted that in a situation where the individuals are risk neutral, the low-risk persons will not buy insurance as only the high-risk individuals will be expected to buy<em> insurance.</em>
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Answer: Product Life cycle
Explanation: Product Life cycle is a concept used to describe the various stages which a product will have to undergo from the time of introduction into the market till the time it will eventually be out of the market. Different products have different life cycle,the life cycle is determined by different factors. The shape of a product's life cycle is that of a BELL SHAPE
The stages include Introductory stage, Growth stage, Stabilization stage and decline stage.
The option that makes the most sense for the party by Mr and Mrs Atoll is one case of 24 sodas at $18.50.
<h3>Why this option is the cheapest</h3>
The reason for this is that given the guests they are entertaining, this option is the most cheapest and effective.
How to calculate for the way that the drink would go round
a. Each bottle is $1.5. Two bottles for 1 = 1.5x2 = 3 dollars
b. six packs at 5$. One= $0.88
c. A case of 24 sodas at $18.5. one soda is going to be 18.5/24 = $0.77
d. Two cases of 24 soda at 18.5 = $1.54
Given the calculations that have been done above, option c at $0.77 is the cheapest. It would require them to send the less money in getting sodas that would go round twice for 10 people.
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Answer:
4,838,400
Explanation:
Assume there are already Two sets of machine working.
In the first set, there is 5 machine Operates and in another set, There are 8 machines (13-5) operates.
So Total Production sequence = First sets all combinations x Second sets all combination
= 5! x 8!
= ( 5 x 4 x 3 x 2 x 1 ) x ( 8 x 7 x 6 x 5 x 4 x 3 x 2 x 1 )
= 120 x 40,320
= 4,838,400
So , total number of machine combination is 4,838,400.
