Answer:
The question is about the least amount to charge each policyholder as premium
The least premium is $484
Step-by-step explanation:
The least amount of premium to charge for this policy is the sum of the expected values of outcome of both instances of policyholder dying before the age of 70 and living after the age of 70 years
expected value of dying before 70 years=payout*probability=$24,200*2%=$484
Expected of living after 70=payout*probability=$0*98%=$0
sum of expected values=$484+$0=$484
Note that payout is nil if policyholder lives beyond 70 years
The premium of $573 means that a profit of $89 is recorded
Hello user
To solve for V we simplify both sides of the equation then isolate the variable to get v <span>≥ 2
Therefor the answer is: </span>v ≥ 2
<span>
I hope this helped
-Chris</span>
Answer:
70 x 6000 = 6000 x 70
Explanation:
The associative of multiplication means the items can be regrouped without changing the answer: a(bc) = (ab)c. This means 70 x 6000 = 70 x 6 x 1000.
Answer:
x≤-2
Step-by-step explanation:
To solve the inequality, we have to add 1 on each side:
5x-1≤11
+1 +1
And then we get:
5x≤-10.
To find x, we have to divide each side by 5:
5x/5≤-10/5
After we do that, we get:
x≤-2.
