I hope this helps you
Volume =pi.r^2.h
Volume =3,14.8^2.10
Volume =31,4.64
Volume =200,96
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
When you plug the equation into a graphing calculator the x-intercept is -5
Or you can set the equation equal to 0 and solve for x.
It would be 30.7% because when you change a decimal to a percent, the decimal point moves 2 places to the right. For a percent to a decimal, move the decimal point 2 places to the left
