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
Answer:
Rs20
Step-by-step explanation:
C.P=Rs180
S.P=Rs200
profit =S.P-C.P
=Rs200-Rs180
=Rs20
Answer:
(g◦f)(x) = 2x +1
Step-by-step explanation:
(g◦f)(x) = g(f(x)) = g(2x -1) = (2x -1) +2
(g◦f)(x) = 2x +1
__
Substitute f(x) for the argument in the function g(x) and simplify.
If you mean each minute she read 3 pages.
If she started on page 20 and read 3 pages every minute, and the answer is how many pages did she read in 9 minutes.
Simple just do 20 x 9.
First step - what’s 2 x 9...18. Now anytime there’s a zero just simplify it by putting the 0 at the end of your answer. So the answer would be 180.
I hope this helped!!!
For a trapezoid, the area is:
S=(b+B)h/2, where b and B are the bases, and h is the height.
b=2
B=2+2+2=6
h=2.
S=(2+6)×2/2=8
