1/3(2)=area
so the area is 2
_
3
Answer:
a) Expected Value of Claims = $32,000
b) Average premium per claim, in order to break-even on claim costs
= $5,333.33
c) To make a profit of $60 per policy (i.e. a total profit of $360 ($60 x 6), it must charge:
= $5,393.33 per policy
Step-by-step explanation:
a) Data and Calculations:
Amount of Claim Probability Expected Value
$0 0.60 $0
$50,000 0.25 $12,500
$100,000 0.09 9,000
$150,000 0.04 6,000
$200,000 0.01 2,000
$250,000 0.01 2,500
Expected Cost of claims = $32,000
b) Average premium per claim, in order to break-even on claim costs
= Total Claim cost divided by number of policies
= $32,000/6 = $5,333.33
c) To make a profit of $60 per policy (i.e. a total profit of $360 ($60 x 6), it must charge:
Total Claim cost + Total profit / 6 or Average Premium plus Profit per policy =
= ($32,000 + $360)/6 or $5,333.33 + $60
= $32,360/6 or $5,393.33
= $5,393.33
<span>numbers is the same? 1<span>7,_,_,41 i think
</span></span>
Answer: 18.8 miles
Step-by-step explanation:
Ww are given the equation 4.7x=2.5x+8.8 to solve the question. This will be:
4.7x = 2.5x + 8.8
Collect like terms.
4.7x - 2.5x = 8.8
2.2x.= 8.8
x = 8.8/2.2
x = 4
To know how fast the kickers are going will be
4.7x = 4.7 × 4 = 18.8 miles
Bob paid $48.6 that’s the total
