If there is a 5% drop every month, then the class becomes 1-5%=1-0.05=0.95 times the previous size.
The formula for
months would be
so for 12 months it would be
You can use the quadratic formula with it which will be easier
or simple factoring
it will be (5x-11)(7x+4)
It is the last one 14 units x 8 units
Answer:
-$500
Step-by-step explanation:
The expected value of a payment from the policy is ...
$500,000 × 0.002 = $1000
Since the business pays $1500 for the policy, the expected value to the business is ...
$1000 - 1500 = -$500 . . . per year
_____
Of course, the expected value to the insurance company is $500 per year.
_____
We have computed on the basis of 1 claim per year. If we consider the possibility of multiple independent claims, then the expected payment from the insurance goes up by a factor of 1/(1 -0.002) ≈ 1.002004008016.... This has the effect of increasing the expected value by $2.00 per year to -$498.
Answer:
(L+1)/2 = W
Step-by-step explanation:
