What are the possible outcomes of rolling a six-sided die?
1 answer:
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Hello!
<u><em>Answer: ⇒ 1/38</em></u>
Step-by-step explanation:
Convert element to fraction.
Apply the fraction rule.
Then you can multiply by the fraction.
Multiply by the numbers.
Hope this helps!
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-Charlie
Answer:
the customer's expected value of the cellphone insurance policy is -$38.64. (Option C)
Step-by-step explanation:
Based on the data given, 585/5000 or 11.7% of the total number policies have claims. This means, 100% - 11.7% = 88.3% have not claimed their cellphone insurance.
- In the chart, we are focusing on the customer's end because the question is asking for the customer's expected value↓
- In the chart, if the customer has no claims, then he losses his $48. However, if he has claims, he gains $32 since $80 - 48 = $32. Also, based on the data given by the company, 88.30% have no claims and only 11.7% of the customers have claims.
- To get the expected value, we will multiply -48 and 88.3% as well as 32 and 11.7%. 48 is negative because it indicates a loss.
Therefore, your Answer is -38.64
