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1 answer:
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Answer:
The expected loss is $6980
Step-by-step explanation:
From the question we are told that
The chance that a customer survives another year is p =0.96
The rate at which the policy is sold is r = $85 per month
The rate at which the policy is sold per year is R = $85 * 12 per year
= $1020 per year
The amount paid the the beneficiaries is $200,000
The expected value of profit/loss for this company is mathematically represented as
substituting values
- $6980
The negative sign shows that it is a loss
Answer:
Step-by-step explanation:
The complete exercise is: "Tomos is a skier he completed a ski race in 2 min 6 seconds the race was 525 m in length. Tomos assumes that his average speed is the same for each race. using this assumption, work out how long tomos should take to complete an 800 m race give your answer in minutes and seconds"
For this exercise you can use the following formula to find the average speed :
Where "d" is the distance and "t" is the time.
In this case, based on the information given in the exercise, you can identify that:
Since he completed a ski race in 2 min 6 seconds, and 1 minute has 60 seconds, you ge that this time in seconds is:
Substitute these values into the formula to find the average speed:
The formula for the time is:
Knowing that Tomos assumes that his average speed is the same for each race, for the 800 meters race you can identify that:
So, substituting values into the formula and evaluating, you get that the time it takes him to complete this race is:
Convert from seconds to minutes:
Converting 0.2 minutes to seconds, you get:
Therefore: