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:
7x12x2=168 I think but how did u do this
<u>Given</u>:
If you are dealt 4 cards from a shuffled deck of 52 cards.
We need to determine the probability of getting two queens and two kings.
<u>Probability of getting two queens and two kings:</u>
The number of ways of getting two queens is 
The number of ways of getting two kings is
Total number of cases is 
The probability of getting two queens and two kings is given by
Substituting the values, we get;
Simplifying, we get;
Thus, the probability of getting two queens and two kings is 0.000133
Answer:
$4.95 + $3.99b = c
I can't make a graph but start at 4.95 on the graph and move up 3.99 every time you go to the right once
Answer:
-2
Step-by-step explanation:
