Answer:
$150
Step-by-step explanation:
In this case, we have a random variable with four possible outcomes
0, 1000, 5000 and 10000
and four possible probabilities of occurrence
0.83, 0.10, 0.05 and 0.02
respectively.
The expectation of this random variable is (* means multiplication),
0.83*0 + 0.10*1000 + 0.05*5000 + 0.02*10000 = 100 + 250 + 200 = 550
This represents the amount of money the company expects to pay a customer in a given year.
As the deductible is $500, the customer would pay $500 in case of an accident, so the company would only have to pay
$550 - $500 = $50.
So, if the company wishes a profit of $100, the premium amount should be $150.
<span><span><span><span><span><span>1/4</span>y</span>+<span>11/2</span></span>+2</span>−<span><span>13/4</span>y</span></span>−12</span><span>
=<span><span><span><span><span><span><span>1/4</span>y</span>+<span>11/2</span></span>+2</span>+<span><span><span>−13/</span>4</span>y</span></span>+</span>−12</span></span>
<span>=<span><span><span><span><span><span>1/4</span>y</span>+<span>11/2</span></span>+2</span>+<span><span><span>−13/</span>4</span>y</span></span>+<span>−12</span></span></span><span>
=<span><span>(<span><span><span>1/4</span>y</span>+<span><span><span>−13/</span>4</span>y</span></span>)</span>+<span>(<span><span><span>11/2</span>+2</span>+<span>−12</span></span>)</span></span></span><span>
=<span><span>−<span>3y</span></span>+<span><span>−9/</span>2</span></span></span>
Hoped I helped!
2247 over 10 = x
2247/10 = x
x = 224.7
One of the never answered. sad. its D.
About 142ish i think. sorry if it's not the answer you were looking for.
