The answer is 95%
This is something you should memorize. Specifically it is from the Empirical Rule (or 68-95-99.7 rule) which gives rough approximations of areas under the curve.
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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Answer:
I don't understand what should i answer.
The only thing I undrestood was that this is a relation which can be a function.
Answer:
d
Step-by-step explanation:
