Answer:
1. The expected pay-out on each policy is 250 * 1/90 + 12000 * 1/100 + 17000 * 1/400 = $165. So that's what the premium would have to be in order to get a profit of 0.
2. The profit per policy is the premium the company receives minus the expected payout = 350 - 165 = $185.
3. The expected profit on 375 policies would be 375 * 185 = $69375
Step-by-step explanation:
We require a picture of said spinner to see which sides say a and which say b
Bring it to the form ax + by = c, where a is positive, and there are no fractions in the equation.
Here, we need to add 2/5x to both sides:
2/5x + y = 0
Then multiply everything by 5 to get rid of the fraction
2x + 5y = 0 <==
(5 + x) / 6 = -1....multiply both sides by 6, cancelling out the 6 on the left side
5 + x = -1 * 6
5 + x = -6
x = -6 - 5
x = -11
