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madam [21]
3 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]3 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.

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óscar’s firm operates in a rapidly changing industry. he often must apply his excellent ________ to assess problems and develop
TEA [102]

According to management theory, óscar’s firm operates in a rapidly changing industry. He often must apply his excellent "<u>problem-solving skills</u>" to assess problems and develop solutions very quickly.

This is based on the idea that <u>problem-solving skills</u> are essential in assisting individuals in determining the cause of a problem and why it is occurring, including how to decipher the issue.

There are various <u>Problem-Solving Skills</u> include:

  • Active listening.
  • Analysis.
  • Research.
  • Creativity.
  • Communication.
  • Dependability.
  • Decision making.
  • Team-building, etc.

Hence, in this case, it is concluded that the correct answer is "<u>Problem Solving Skills."</u>

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8 0
3 years ago
For the purpose of calculating gdp, investment is spending on
Brut [27]

Spending on capital goods, inventories, and structures, including the building of new homes, is considered investment for the purposes of computing GDP.

A country's gross domestic product (GDP) is the sum of the market capital goods values of all the finished products and services produced within its borders during a certain time period. It serves as a thorough assessment of a particular country's economic health as a wide indicator of entire domestic production.

While GDP is frequently estimated on an annual basis, it is also occasionally calculated on a quarterly basis. In the capital goods United States, for instance, the government produces an annualized GDP estimate for both the calendar year and each fiscal quarter. Since each set of data in this report is presented in actual terms, price changes are taken into account and the data is therefore net of inflation.

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The complete question is

For the purpose of calculating GDP, investment is spending on

a. stocks, bonds, and other financial assets.

b. real estate and financial assets.

c new capital equipment, inventories, and structures, including new house construction.

d. All of the above.

8 0
1 year ago
A salesperson who follows the trust-based relationship selling strategy when dealing with his or her customers is expected to be
astraxan [27]

A salesperson who follows the trust-based relationship selling strategy when dealing with his or her customers is expected to be actively involved in <u>solving his or her customers' problems</u>.

The salesperson is in charge of welcoming customers, guiding them toward the merchandise they need, and ringing up purchases. You need to be a great communicator if you want to succeed in sales. A successful salesperson achieves sales goals while being courteous and helpful to consumers.

A sales strategy is a written plan for positioning and marketing your product or service to potential customers in a way that sets it apart from your rivals' offerings. Your sales organisation should receive clear objectives and direction from your sales tactics.

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3 0
2 years ago
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River R
sleet_krkn [62]

Answer:

Estimated manufacturing overhead rate= $1.75 per direct labor dollar

Explanation:

Giving the following information:

The estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $3,150,000, and total direct labor costs would be $1,800,000.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 3,150,000/1,800,000= $1.75 per direct labor dollar

8 0
3 years ago
On July 10, Pet Supply Store orders fifty small dog collars from Quality Collars, Inc. to be delivered by July 15. On July 13, Q
slavikrds [6]

Answer:

A. Until July 15 to cure.

7 0
3 years ago
Read 2 more answers
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