Is it true that the order when dividing 3 real numbers does not affect the answer
1 answer:
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Mr Chan spent
dollars when he bought the shares. If he sells 45 shares at 3.80, he will gain
dollars. So, the net profit would be
money can the insurance company expect to make with each policy sold .
<u>Step-by-step explanation:</u>
Here we have , A flood insurance company sells policies for $700 per year. If a customer's house is flooded, they are given $250,000 for repairs. The insurance company has calculated the chances that a house is flooded to be 1/12,500 over the year. We need to find , How much money can the insurance company expect to make with each policy sold . Let's find out:
Probability for flooding is 1/12,500 i.e. out of 12,500 people only 1 house is flooded , Amount of money collected by 12,500 people is :
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But Company will give $250,000 for repairs . So , Amount of money :
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Now , this money is from 12,500 people , so from every person they had:
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Therefore , money can the insurance company expect to make with each policy sold .