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:
1/2 percent
Step-by-step explanation:
If you look at the box, the middle number is 12 or since its the middle "1/2"
so the fraction would be 1/2, hope this helped.
Answer:
2x3/5
Step-by-step explanation:
This graph below has your answer
Answer:
8/35 cubic inches
Step-by-step explanation:
Volume is length x width x height. To find the answer, we must multiply all values together. 2/3 times 3/5 ix 6/15. Let's simplify this before multiplying further. 6/15 can also be written as 2/5. 2/5 times 4/7 is 8/35 which cannot be simplified. 8/35 is the final answer.