Answer:
the expected value= $90
Step-by-step explanation:
when sell is $600 an average of 1 in 100 will claim $20,000
and an average 1 in 200 will claim $30,000
and an average of 1 in 500 will claim $550,000.
company sells 20,000 policies
The expected profit loss can be written as
= 600 - (1/100 * 20000) - (1/200 * 30000) - (1/500 * 80000)
= 600 - 200 - 150 - 160
= 90
Therefore, the expected value= $90
If June went swimming for the same number of minutes for 6
days, June swam 48 minutes every day for 6 days. Given the equation: 288 (total
number of minutes June swam) ÷
6 (number of days) = 48 minutes each day.
Step-by-step explanation:
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