Answer:
35.35%
Step-by-step explanation:
If there were no deductibles, the expected claim payment would be:

If the collision insurance claim is under $2,000, then the insurer would not pay anything, but if X > $2,000, then the insurer would pay X - $2,000. The new expected value is:

The percentage reduction on the claim payment is:

There was a 35.35% reduction.
Answer:
0.627%
Step-by-step explanation:
Probability calculates the likelihood of an event occurring. The likelihood of the event occurring lies between 0 and 1. It is zero if the event does not occur and 1 if the event occurs.
For example, the probability that it would rain on Friday is between o and 1. If it rains, a value of one is attached to the event. If it doesn't a value of zero is attached to the event.
Probability of a randomly selected household to be audited and owns a dog = P(A ∩ B) = P(A) x P(B)
where A = household tax returns audited
B = percentage of households that own dogs
0.0165 x 0.38 = 0.627%
1600(-400)= f is the y axis and -400 because its taking money from his account
Multiply by a across the formula
Answer:
The percent of decrease can be calculated with this formula:
(Original value - New Value)/(Original Value)
In this case, the original value is 117 and the new value is 91.
So the percent of decrease is 26/117, or about 22%.
Hope this helps!