so.. to get every angle, simply plug in 10 for "x" for each.
Answer:
$44
Step-by-step explanation:
Original price = $80
Discount on sale = 50%
Discounted price = (1 - 50%) * original price
Discounted price = 0.5 * $80 = $40
Sales tax = 10%
Sales tax amount = 0.1 * $40 = $4
Total cost = discounted price + sales tax amount
Total cost = $40 + $4 = $44
The graph is shown below.
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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