Answer:
$475
Step-by-step explanation:
There are 3 possible accident in this question
3% chance of losing $2000
0.1% chance of losing $150,000
96.9% chance of losing $0
Then the expected value that you will lose is:
3%* $2000 + (0.1% * $15000) + (96.9% * $0)= $75
Profit made by subtracting the price with the lose. If the company want average profit $400, the charge should be:
average profit = premium price - average lose
premium price= average profit + average lose
premium price= $400 + $75 = $475
190 and 65 because no negatives are allowed
Its either rational or not a real number but i think its not a real nmber
Answer:
A=2(wl+hl+hw)
2·(4·7+15·7+15·4)
386
Step-by-step explanation:
Answer:
(22.12, 27.48)
Step-by-step explanation:
Given : Significance level : 
Sample size : n= 8 , which is a small sample (n<30), so we use t-test.
Critical values using t-distribution: 
Sample mean : 
Standard deviation : 
The confidence interval for population means is given by :-
i.e. 
Hence, the 95% confidence interval, assuming the times are normally distributed.= (22.12, 27.48)
