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Nuetrik [128]
4 years ago
11

Based on historical data, an insurance company estimates that a particular customer has a 2.4% likelihood of having an accident

in the next year, with the average insurance payout being $2700.
If the company charges this customer an annual premium of $250, what is the company's expected value of this insurance policy?
Mathematics
1 answer:
solong [7]4 years ago
8 0

Answer:

The expected value of this insurance policy is kept at $185.2 based on the historical data provided

Step-by-step explanation:

probability/likelihood of having an accident by the customer is = 2.4% which is 2.4÷100 = 0.024 probability :

The cost to the company at 0.024 probability of having an accident

=  - $2700 (average insurance payout)

probability of not having an accident by the customer is =  100% - 2.4%  = 97.6% which is 97.6 ÷ 100 = 0.976 probability

The cost to the company at 0.976 probability of no accident = $0

The premium paid by the customer annually is = $250

Therefore to get the expected value of the insurance policy (E) will be

(probability of accident) (average insurance payout) + (probability of no accident) (cost of no accident to the company) + premium paid by customer  

0.024(-$2700) + 0.976($0) + $250 = $185.2

- $64.8 + $0 + $250 = $185.2

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Marcus has earned 353 out of 400 points (88% or B+) in Math class. He needs 90% to earn an A-. There is one test left worth 100
aleksklad [387]

Answer:

97

Step-by-step explanation:

Marcus is aiming for an A- (90-94 percent). The question states that there is another test awaiting that is worth 100 points. In order to find the answer to the question, you need to:

1.) Add 400 + 100, to show how many points there are in total.

2.) Use the answer choices and add it to 353.

88 + 353 = 441

93 + 353 = 446

97 + 353 = 450

3.) Find the percentage of the sums.

441/500 = 88%

446/500 = 89%

450/500 = 90%

Since Marcus is aiming for an A-, we can conclude that obtaining 97 points will help Marcus achieve an A-.

8 0
3 years ago
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Either Roman has a date with Malou, or Jeff is sleeping or Hadji is eating.
hjlf
Given that o<span>ne Friday night, Roman and Malou are busy studying for their Logic exam. Meanwhile, Hadji just tweeted a picture of himself eating crispy pata and sisig. Jeff is sound asleep in his dorm room.

Part A:

The truth value of </span>"Either Roman has a date with Malou, or Jeff is sleeping or Hadji is eating." is obtained as follows:

From the scenario, the truth value of the individual statements are as follows:

<span>Roman has a date with Malou is True
</span>
<span>Jeff is sleeping is True
</span>
<span>Hadji is eating is True

Thus, the truth value of "True" or "True" or "True" is True.

Therefore, the truth value of "</span><span>Either Roman has a date with Malou, or Jeff is sleeping or Hadji is eating." is True.



Part B:

</span>The truth value of "Either Jeff is sleeping or Hadji is not eating" is obtained as follows:

From the scenario, the truth value of the individual statements are as follows:

<span>Jeff is sleeping is True
</span>
<span>Hadji is not eating is False

Thus, the truth value of "True" or "False" is True.</span>

Therefore, the truth value of "Either Jeff is sleeping or Hadji is not eating" is True.



Part C:

The truth value of "Roman and Malou are on a date and Jeff is sleeping, or Hadji is not eating." is obtained as follows:

From the scenario, the truth value of the individual statements are as follows:

Roman and Malou are on a date is True

<span>Jeff is sleeping is True
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<span>Hadji is not eating is False

The truth value of "True" and "True" is True.
The truth value of "True" or "False" is True.

Thus, the truth value of ("True" and "True") or "False" is True.
</span>
Therefore, the truth value of "Roman and Malou are on a date and Jeff is sleeping, or Hadji is not eating." is True.
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The point lies directly on the regression line (Apex)
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The answer to this is D, $990.00
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That's 21.

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