We don't have the scatter plot
This is complicated because I’m typing on a phone, but
24:30 simplified is 4:5
30:54 simplified is 5:9
10:5 simplified is 2:1
5:15 simplified is 1:3
32:72 simplified is 4:9
72:104 simplified is 9:13
56:7 simplified is 8:1
7:63 simplified is 1:9
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
Answer:
otterbox costs $95; beats costs $210
Step-by-step explanation:
x = otterbox y = beats
4x + 2y = 800 y = 2x + 20
4x + 2(2x + 20) = 800
4x + 4x +40 = 800
8x + 40 = 800
8x = 800 - 40
8x = 760
x = 760 / 8
x = 95 Otterbox costs $95 each
4x + 2y = 800
4(95) + 2y = 800
380 + 2y = 800
2y = 800 - 380
2y = 420
y = 420 / 2
y = 210 Beats costs $210
4(95) + 2(210) = 800
380 + 420 = 800
To earn at least $3,200 in revenue, the ticket prices should be $10 or $40.
<h3>What is an
Equation</h3>
An equation is an expression that shows the relationship between two or more variables and numbers.
Revenue = number of tickets sold * price per ticket = (400 - 8p)p
Revenue = 400p - 8p²
For no revenue:
400p - 64p² = 0
p = $0 or p = $50
For revenue of atleast 3200:
400p - 8p² = 3200
p = $10 or p = $40
To earn at least $3,200 in revenue, the ticket prices should be $10 or $40.
Find out more on Equation at: brainly.com/question/1214333
