The premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
First step is to calculated the expected amount to pay
Expected amount=Total loss +50% loss+25% loss
Expected amount=$200,000(0.002)(1)+$200,000(0.01)(0.5)+$200,000(0.1)(0.25)
Expected amount=$400+$1,000+$5,000
Expected amount=$6,400
Second step is to calculate the premium
Premium=Expected amount+ Average profit
Premium=$6,400+$500
Premium=$6,900
Inconclusion the premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
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The function g(x) can be expressed as the inverse of f(x) as;
g(x) = ¼x - 3
<h3>Inverse Functions</h3>
Complete question is;
If g(x) is the inverse of f(x) and f(x) = 4x + 12 what is g(x)?
- Now, for us to find the inverse of a function, we need to make the output the subject of the formula first and then switch the input and new output values.
Thus;
f(x) = 4x + 12
Thus;
(f(x) - 12)/4 = x
x = ¼f(x) - 3
Thus, switching as said above, we now have;
g(x) = ¼x - 3
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Helmet
(Tried my best) gloves are things weared for to protect the hands. The same goes for the head, helmet is to protect our head
Problem recognition is the process the consumer becomes aware of a gap between their existing situation and the desired or ideal situation. This is further explained below.
<h3>What is Problem recognition?</h3>
Generally, Problem identification is the first step of the business buying process, and it occurs when someone within the firm identifies a problem or a need that can be addressed by purchasing a product or a service. This stage may also be referred to as "need recognition."
In conclusion, The process by which a customer becomes aware of a gap between their current position and the scenario that they want or consider to be ideal is known as problem recognition.
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