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Answer:
the customer's expected value of the cellphone insurance policy is -$38.64. (Option C)
Step-by-step explanation:
Based on the data given, 585/5000 or 11.7% of the total number policies have claims. This means, 100% - 11.7% = 88.3% have not claimed their cellphone insurance.
- In the chart, we are focusing on the customer's end because the question is asking for the customer's expected value↓
- In the chart, if the customer has no claims, then he losses his $48. However, if he has claims, he gains $32 since $80 - 48 = $32. Also, based on the data given by the company, 88.30% have no claims and only 11.7% of the customers have claims.
- To get the expected value, we will multiply -48 and 88.3% as well as 32 and 11.7%. 48 is negative because it indicates a loss.
Therefore, your Answer is -38.64
The length of the side joining points (-3, -1) and (1, 3) is given by
The length of the side joining points (1, 3) and (3, 1) is given by
The area of a rectangle is given by length times width.
Thus, the area of the given rectangle is given by
The length of the side joining points (1, 3) and (3, 1) is given by
The area of a rectangle is given by length times width.
Thus, the area of the given rectangle is given by