Answer:
The question is about the least amount to charge each policyholder as premium
The least premium is $484
Step-by-step explanation:
The least amount of premium to charge for this policy is the sum of the expected values of outcome of both instances of policyholder dying before the age of 70 and living after the age of 70 years
expected value of dying before 70 years=payout*probability=$24,200*2%=$484
Expected of living after 70=payout*probability=$0*98%=$0
sum of expected values=$484+$0=$484
Note that payout is nil if policyholder lives beyond 70 years
The premium of $573 means that a profit of $89 is recorded
Correct answer is the 4th choice 16!!!
Hope this helps!!!
The piecewise function is
f(x) = 2, 0 < x ≤ 1/2
f(x) = 2 + 0.7x, x > 1/2
<h3>How to determine the piecewise function?</h3>
From the question, we have:
Fares = $2.00 ⇒ up to (and including) 1/2 miles
Fares = $0.70 increment ⇒ greater than 1/2 miles
Let x represent the number of miles, and f(x) the fares.
So, we have:
f(x) = 2, 0 < x ≤ 1/2
f(x) = 2 + 0.7x, x > 1/2
The above represents the piecewise function
Read more about piecewise function at:
brainly.com/question/18859540
#SPJ1
Hey there! :D
When powers are outside the parenthesis, you multiply them. When they are not, you add them.
(y^3)^2 * y^7
3*2= 6
y^6*y^7
Add the powers.
y^13= the simplest form
I hope this helps!
~kaikers
