Answer:
The question is about the least amount to charge each policyholder as premium
The least premium is $484
Step-by-step explanation:
The least amount of premium to charge for this policy is the sum of the expected values of outcome of both instances of policyholder dying before the age of 70 and living after the age of 70 years
expected value of dying before 70 years=payout*probability=$24,200*2%=$484
Expected of living after 70=payout*probability=$0*98%=$0
sum of expected values=$484+$0=$484
Note that payout is nil if policyholder lives beyond 70 years
The premium of $573 means that a profit of $89 is recorded
Answer:
1.7
Step-by-step explanation:
Line all the numbers in a column and compared where the numbers are not the same numbers
First multiply 40 and 10 to get 400. Then multiply 400 by 8 to get 3,200.
Your answer would be: 3,200
The second data set represents the boxplot because in the box plot the measure of statistics is the same as the data set option second is correct.
<h3>What is the box and whisker plot?</h3>
A box and whisker plot is a method of abstracting a set of data that is approximated using an interval scale. It's also known as a box plot. These are primarily used to interpret data.
We have given a data set and a box plot shown in the picture.
From the boxplot we can see:
Minimum value = 2
Q1 = (2+4)/2 = 3
Median = (4+6)/2 = 5
Q3 = (8+10)/2 = 9
Maximum value = 10
The second data set:
{2, 3, 3, 4, 5, 5, 8, 10, 10}
Minimum value = 2
Q1 = (2+4)/2 = 3
Median = (4+6)/2 = 5
Q3 = (8+10)/2 = 9
Maximum value = 10
Thus, the second data set represents the boxplot because in the box plot the measure of statistics is the same as the data set option second is correct.
Learn more about the box and whisker plot here:
brainly.com/question/3209282
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