1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
madam [21]
2 years ago
8

JKL Insurance Company estimates that 14 out of every 100 homeowners it insures will file a claim each year. Last year, JKL insur

ed 200 homeowners. According to the law of large numbers, what should happen if JKL insures 2,000 homeowners this year?a. The total number of claims filled by JKL policy owners should decrease.b. The total dollar value of claims will decrease.c. The average size of loss will decline in value.d. The actual results will more closely approach the expected results.
Business
1 answer:
Snowcat [4.5K]2 years ago
5 0

Answer:

The answer is: D) The actual results will more closely approach the expected results.

Explanation:

The Law of Large Numbers is a principle or probability that states that as the number of events (home insurance policies) increases, the actual ratio of outcomes tend to converge with the expected ratio of outcomes (14% of homeowners filing a claim per year).

So if JKL Insurance Company issues 2,000 home policies this year, they should expect that 280 homeowners will file a claim for this year.

You might be interested in
Which of the following is NOT a characteristic of a market in equilibrium?
iren2701 [21]

B. All consumers are able to purchase an amount equal to their quantity demanded.

6 0
3 years ago
In order to hold a hearing, the Superintendent must give how many days notice to the producer being investigated?
lorasvet [3.4K]
Not fewer than 20 days nor more than 30 days.
6 0
2 years ago
Benefits for organizations that successfully implement supplier relationship management can include
frozen [14]

Answer:

1. More market speed

2. Reduced costs

3. better and Improved quality

Explanation:

A supplier relationship management can be explained as the process of knowing those suppliers that are really important to the growth of a business and putting into place, a system that would help in the managing of existing  relationships with these important suppliers.

Organizations that are able to fully implement such relationships enjoy benefits such as

1. increased speed to the market

such relationships can help to remove delays that are caused by supply chains

2. They enjoy reduced costs

product sampling, contract negotiation, sampling of new suppliers could take a lot of time as well as money. Mistakes could even be made

3. They also enjoy quality items from the suppliers

7 0
2 years ago
A learning rate of 0.9 means each __________ of the cumulative output reduces unit costs by __________.
lyudmila [28]

Answer:

b. 10% doubling

Explanation:

Options are <em>"a. tripling, b. 10% doubling, c. 90% tripling, d. 90% doubling, e. 10%"</em>

In this question, 90%(0.9) learning rate means that (1-0.9)10% unit of input is reduced each time the production is doubled. In a nutshell, the learning curve percentage represents the proportion by which the amount of an input per unit of output is reduced each time production is doubled.

4 0
2 years ago
What is a online profile?<br> 20 pts!!
velikii [3]
Online profiling is collecting information about Internet users and their online behavior to create a profile of their tastes, interests, and purchasing habits.
8 0
3 years ago
Other questions:
  • What is the approximate maximum hardness value in rockwell units that steel can attain?
    12·1 answer
  • Comfy Mattresses, Inc., is opening a new plant in Orlando, Florida. Ron Lane, distribution manager, has been asked to find the l
    9·1 answer
  • How should silvio napoli deal with the challenges he is facing over transfer prices and limited technical cooperation from the e
    9·2 answers
  • Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: Division Queensland New South
    8·1 answer
  • Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for ​$14​, a second lawn for ​$17​
    10·1 answer
  • When you compose a message, you want your audience to find the information it needs quickly and to understand it. Your message s
    11·1 answer
  • Social compensation is especially likely when high-ability group members are suspected of loafing.
    8·1 answer
  • Identify five HRM criteria or components that can be used to measure organizational effectiveness or ineffectiveness. "Grievance
    9·1 answer
  • g In the United States, price discrimination is ________. Group of answer choices Encouraged permitted Illegal Available only fo
    6·1 answer
  • HELP PLEASE<br><br> 20 points :)
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!