Answer:
a) Expected Value of Claims = $32,000
b) Average premium per claim, in order to break-even on claim costs
= $5,333.33
c) To make a profit of $60 per policy (i.e. a total profit of $360 ($60 x 6), it must charge:
= $5,393.33 per policy
Step-by-step explanation:
a) Data and Calculations:
Amount of Claim Probability Expected Value
$0 0.60 $0
$50,000 0.25 $12,500
$100,000 0.09 9,000
$150,000 0.04 6,000
$200,000 0.01 2,000
$250,000 0.01 2,500
Expected Cost of claims = $32,000
b) Average premium per claim, in order to break-even on claim costs
= Total Claim cost divided by number of policies
= $32,000/6 = $5,333.33
c) To make a profit of $60 per policy (i.e. a total profit of $360 ($60 x 6), it must charge:
Total Claim cost + Total profit / 6 or Average Premium plus Profit per policy =
= ($32,000 + $360)/6 or $5,333.33 + $60
= $32,360/6 or $5,393.33
= $5,393.33
Answer:
?
Step-by-step explanation:
Answer:
The graph in the attached figure
Step-by-step explanation:
Let
x-----> the number of pints
y----> the number of servings
For x=3 pints, y=2 servings
This is a proportional variation
A relationship between two variables, x, and y, represent a proportional variation if it can be expressed in the form 
or 
so
The linear equation is equal to
The graph in the attached figure
The inscribed polygon can be square or a hexagon.
<h3>What is polygon'?</h3>
A polygon is a two-dimensional geometric figure that has a finite number of sides. The sides of a polygon are made of straight line segments connected to each other end to end.
First,
if we join A to B, B to C, C to D and D to A then a square will be formed.
But, if we join passing through the arc intersecting point then join to B then again join to a line passing through arc intersecting then to D.
A six side figure will obtain named as hexagon.
Learn more about polygon here:
brainly.com/question/26215603
#SPJ1
Step-by-step explanation:
Hope it will help :)
