I graphed the equation using an online graphing calculator and got the vertex of (-5, 49) therefore y = 49
Answer:
$7120 or $7565 is the minimum average premium they should charge per policy holder
Step-by-step explanation:
Small business can charge 80-85% of the total value of the policy as premium.
In this case the spending per policy holder is $8900
Hence, per policy holder has to pay a premium of
80-85% of $8900
$7120 or $7565 is the minimum average premium they should charge per policy holder
For this Q:
mean=31
st.dev.=0.8
x=32
Calculate z-score:
z=(x-m)/s = (32-31)/0.8=1.25
This z-score value corresponding to the probability of 0.8944
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If my calculations are correct the answer is cut your answer in half
Answer:
C.
Step-by-step explanation:
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