Answer:
Avicenna can expect to lose money from offering these policies. In the long run, they should expect to lose ___33__ dollars on each policy sold
Step-by-step explanation:
Given :
The amount the company Avicenna must pay to the shareholder if the person die before 70 years = $ 26,500
The value of each policy = $497
It is given that there is a 2% chance that people will die before 70 years and 98% chance that people will live till the age 70.
The expected policy to be sold= policy nominal + chances of death
= 497 + [98% (no pay) + 2% (pay)]
= 497 + [98%(0) + 2%(-26500)]
(The negative sign shows that money goes out of the company)
= 497 - 2% (26500)
= 497 - 530
=33
Therefore the company loses 33 dollar on each policy sold in the long run.
Answer:
(x-5) (x+4)
Step-by-step explanation:
x^2-x-20
What two terms multiply to -20 and add to -1
-5*4 = -20
-5+4 = -1
(x-5) (x+4)
Answer: x =6
Step-by-step explanation:
Answer: Pt1= Only x=5
Pt2=Is not x=5 is an extraneous solution though I believe It is x=-2 is an extraneous solution
Step-by-step explanation:
Answer: 60
Step-by-step explanation:
9/15 = 0.6 = 1% 1% x 100 = 100% so 0.6 x 100 = 60
