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iVinArrow [24]
3 years ago
14

ACME insurance company estimates that the probability of the owners’ of a house worth between $120,000 to $170,000 making a clai

m for $5000 is 0.08, and that the probability of the house and contents being totally destroyed is 0.0041. Should that tragedy happen, the company will have to pay $150,000. The company charges $1300 for the insurance policy.
What is the expected value of this policy to the insurance company?

Round your answer to two decimal places.
Mathematics
1 answer:
olchik [2.2K]3 years ago
6 0

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

Learn more here:

brainly.com/question/19819099

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Need help with this math.
madreJ [45]

The end behavior of the function y = x² is given as follows:

f(x) -> ∞ as x -> - ∞; f(x) -> ∞ as x -> - ∞.

<h3>How to identify the end behavior of a function?</h3>

The end behavior of a function is given by the limit of f(x) when x goes to both negative and positive infinity.

In this problem, the function is:

y = x².

When x goes to negative infinity, the limit is:

lim x -> - ∞ f(x) = (-∞)² = ∞.

Meaning that the function is increasing at the left corner of it's graph.

When x goes to positive infinity, the limit is:

lim x -> ∞ f(x) = (∞)² = ∞.

Meaning that the function is also increasing at the right corner of it's graph.

Thus the last option is the correct option regarding the end behavior of the function.

<h3>Missing information</h3>

We suppose that the function is y = x².

More can be learned about the end behavior of a function at brainly.com/question/24248193

#SPJ1

3 0
1 year ago
2. Fred has twice as much money
lys-0071 [83]

J=amount Jake has; F=amount Fred has=2J

J+F=$54

J+2J=$54

3J=$54

J=$18

ANSWER 1: Jake has $18.

F=2J=2($18)=$36 ANSWER 2: Fred has $36.

4 0
3 years ago
Describe the function over each part of its domain. State whether it is constant, increasing, or decreasing, and state the slope
vivado [14]

The function is illustrated below based on the information.

<h3>How to describe the function?</h3>

When x <= 8000

The cost remains constant at 0.35 when x increases from 0 to 8000. The slope of the cost function over this part is 0

When 8000 < x <= 20000

The cost remains constant at 0.75 when x increases from 8000 to 20000 and the slope of the cost function over this part is 0.

Learn more about functions on:

brainly.com/question/25638609

#SPJ1

5 0
2 years ago
Evaluate 6(b - 3) + c; for b = 5 and c = 8
bulgar [2K]

Answer:

20

Step-by-step explanation:

given:

b=5

c=8

6(b-3)+ c

6(5-3)+8

6(2)+8

12+8

20

other method

6(b-3)+c

6b-18+8

30-18+8

12+8

20

4 0
3 years ago
Read 2 more answers
What is the probability that the card is either a black cardblack card or aa 99​?
DerKrebs [107]
It sounds like your book is asking "what is the probability that the card is either a black card or a 9"

If so, there are 26 black cards (13 spades and 13 clubs) and four cards that have "9" on them (one in each suit). We have 26+4 = 30 cards that are either one or the other. There is overlap though. Namely the 2 black cards that have "9" on them (we count them twice), so we should subtract to get 30-2 = 28

There are 28 cards that either have a '9' on them, they are black, or both

This is out of 52 cards total

Divide the two values: 28/52 = 14/26 = 7/13 = 0.53846

Answer as a fraction: 7/13
Answer in decimal form: 0.53846
Answer as a percentage: 53.846%
Side note: the decimal form and percentage form are approximate
6 0
3 years ago
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