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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First calculate the change in y over the change in x:
by - ay -1 - 1 -2
———— = ——— = —— = 1
bx - ax -2 - 0 -2
The slope is 1:
Second set up the equation in y = mx + b form (m is your slope!) ...
y = (1)x + b
... and plug in either point you have used (A or B)
A(0,1)
1 = (1)(0) + b
1 = b
Now you have your equation: y = 1x + 1
Your final step is to plug in point C to solve for your missing variable:
y = (1)(5) + 1
y = 6
the value of H therefore is 6
It's not A or B. And between C and D, I'd choose flexible schedules. <span />
Based on the information given, the additional information that is needed to determine the amount of his earnings will be the number of hours at each job.
From the information given, we are told that George earns $6. 25 per hour from one part-time job and $7. 50 per hour from the other part-time job and that he works a total of 40 hours between the two jobs each week.
Therefore, the additional information required will be the number of hours at each job. This will be vital in solving the question
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