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
Sometimes, for it depends on the triangle. Take a right triangle, for instance. In a right triangle, the hypotenuse is always greater than the two legs. Therefore, you cannot label any side as the base, since the sides are different. In an equilateral triangle, on the other hand, all of the sides and angles are the same. Therefore, no matter which way you turn the triangle, every side is equal. In this sense it doesn't matter which side is labeled as the base. So, it really depends on the kind of triangle you're referring to.
Answer:3
Step-by-step explanation:
2x8=16
There are 5 people in total
16/5=3.2
Whole number so 3 slices
Answer:
A=88 square units
Step-by-step explanation:
A=B x H
A= 11 x 8
A=88 square units
1. Yes.
Since, to be a triangle, the sum of the smallest two sides must be greater than the third side, the triangle can be formed.
3 + 22 > 24
2. This triangle is a right triangle.
180 - 60 - 30 = 90
90 degrees is a right angle.
Hope this helps!
