The premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
First step is to calculated the expected amount to pay
Expected amount=Total loss +50% loss+25% loss
Expected amount=$200,000(0.002)(1)+$200,000(0.01)(0.5)+$200,000(0.1)(0.25)
Expected amount=$400+$1,000+$5,000
Expected amount=$6,400
Second step is to calculate the premium
Premium=Expected amount+ Average profit
Premium=$6,400+$500
Premium=$6,900
Inconclusion the premium that the insurance company should charge each year to realize an average profit of $500 is $6,900.
Learn more about insurance premium here:brainly.com/question/24441770
The Machine Learning is known to be a textbook that was written by Tom Mitchell, McGraw Hill in the year 1997.
<h3>What is the book about?</h3>
This book is known to give student a kind of single source introduction to the scope or field of machine learning.
Note that It is said to be a kind of a well written text book that is made for advanced undergraduate, graduate students, and also it can be used by developers and researchers in regards to artificial intelligence or statistics is assumed.
Learn more about Machine Learning from
brainly.com/question/25523571
#SPJ1
The statement that is most accurate assessment of Jerry's behavior is: This behavior is not a gambling disorder.
<h3>What is Gambling Disorder?</h3>
Gambling disorder, also known as pathological gambling, can be described as a disorder which involves repeated gambling behavior that interferes with one's day to day life leading to problems for the individual, their families and the society.
From the information given about Jerry, it even though he loses money gambling, it doesn't interfere with his daily activities or normal life.
Therefore, the statement that is most accurate assessment of Jerry's behavior is: This behavior is not a gambling disorder.
Learn more about gambling disorder on:
brainly.com/question/7296239
