Other part of question attached
Answer and Explanation:
Answer and explanation attached
Answer:
Explanation:
Revenue is $150 per semester credit hour
Materials cost = $21*45=$945
Labor cost = $4500
Overhead cost = $27,000
Total cost=$945+$4500+$27,000=$32,445
Multifactor probability = Revenue/Total cost = (150+80)*45/32,445=10,350/32,445 = 0.32
The argument above is a deductive reasoning. A deductive reasoning draws a conclusion from a series of premises that are held to be true. The argument also employs no informal fallacy. The confusion lies though on the first premise if it is true.
Answer:

Replacing the values that we have:

And solving for a we got:

So then the premium value for the insurance on this case should be 1840 dollars.
Explanation:
For this case we can define the random variable X as the gain ( in thousand of dollars) of insurance company
We assume that the premium clase charge and amount of a to the company and we know from the info given that:


represent the expected gain in thousand of dollars
The expected value of a random variable X is the n-th moment about zero of a probability density function f(x) if X is continuous, or the weighted average for a discrete probability distribution, if X is discrete.
And using the definition for a discrete random variable we know that :

Replacing the values that we have:

And solving for a we got:

So then the premium value for the insurance on this case should be 1840 dollars.