The premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
First step is to calculated the expected amount to pay
Expected amount=Total loss +50% loss+25% loss
Expected amount=$200,000(0.002)(1)+$200,000(0.01)(0.5)+$200,000(0.1)(0.25)
Expected amount=$400+$1,000+$5,000
Expected amount=$6,400
Second step is to calculate the premium
Premium=Expected amount+ Average profit
Premium=$6,400+$500
Premium=$6,900
Inconclusion the premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
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Answer:
The probability of being a male and a satisfied employee is 27%
Explanation:
The probability of being a male P(m) = 60% = 60/100 = 0.6
The probability of being a satisfied employee P(s) = 45% = 45/100 = 0.45
Mathematically, the probability of being a male and satisfied = Probability of being a male * Probability of being a satisfied employee = P(m) * P(s) = 0.6 * 0.45 = 0.27
or simply 27/100 which is same as 27%
Answer:
The United States is not a direct democracy, in the sense of a country in which laws (and other government decisions) are made predominantly by majority vote.
Explanation:
Some lawmaking is done this way, on the state and local levels, but it’s only a tiny fraction of all lawmaking. But we are a representative democracy, which is a form of democracy.
The United States is also a constitutional democracy, in which courts restrain in some measure the democratic will. And the United States is therefore also a constitutional republic.
