Answer:
Most precise to least precise
- Finding the height of the sun in the sky
- Counting heartbeats
- A calendar
- A stop watch
When converted to a household measurement, 9 kilograms is approximately equal to a
The expected value of this policy to the insurance company is $285.00.
Using this formula
Policy expected value=Insurance policy charges-[(Probability × Claim)+(Probability × Claim)]
Let plug in the formula
Policy expected value=$1,300-{(.0041)($150,000)+(.08)($5,000)]
Policy expected value=$1,300-($615+$$400)
Policy expected value=$1,300-$1,015
Policy expected value=$285.00
Inconclusion the expected value of this policy to the insurance company is $285.00
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The events are independent...because after the first pick, the card was replaced...that means the second pick has the same sample space. In other words, the first pick is not gonna affect the 2nd pick
8 football, 2 basketball...total of 10
P(1st pick is football) = 8/10 which reduces to 4/5
replace
P(2nd pick is basketball) = 2/10 which reduces to 1/5
P (both) = 4/5 * 1/5 = 4/25 = 0.16 <==