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.
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<h3>What is Voluntourism?</h3>
This is a word which uses a combination of the words "volunteer" and "tourism" to note how travellers participate in volunteer work in a different location.
<h3>Purposes of Voluntourism</h3>
- It is important to provide help to people who need it.
- It shows deep care for travellers or tourists to try to take care of the needs of people they barely know.
- It gives people the chance to experience a new culture.
Please note that your question is incomplete so I gave you a general overview so that you can have a better understanding of the concept.
Read more about voluntourism here:
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Speed= distance divided by time so s=d/t
first find the individual speeds during each running segment. we get
s=4.0/32=1/8 km per min
s=2.0/22=1/11 km per minute
s=1.0/16=1/16 km per minute
now we take the average. the person jogged a TOTAL of 7.0 km in a TOTAL 70 minutes. so on average, they jogged 7.0/70=1/10 km per minute
