subject
Mathematics, 18.03.2021 03:10 tati7149

Insurance companies use probability and expected value to determine their rates. Suppose that 100,000 out of 1,000,000 drivers between the ages of 18 and 22 had a car accident. If the average accident cost the insurance company $1,500 and the insurance company charges $1200 for an insurance policy, what is the company’s expected profit per policy?

ansver
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 18:00, puppylover72
Solve this and show you’re work step by step ! -5 3/4+3h< 9 1/4 -
Answers: 1
image
Mathematics, 21.06.2019 23:00, freebyyy7032
Unaware that 35% of the 10000 voters in his constituency support him, a politician decides to estimate his political strength. a sample of 200 voters shows that 40% support him. a. what is the population? b. what is the parameter of interest? state its value c. what is the statistics of the interest? state its value d. compare your answers in (b) and (c) is it surprising they are different? if the politician were to sample another 200 voters, which of the two numbers would most likely change? explain
Answers: 2
image
Mathematics, 22.06.2019 02:00, SoccerHalo
Milk and ice cream are mixed together for a recipe. the total volume of the mixture is 1 cup. if the milk contains 2% fat, the cream contains 18% fat ,and the mixture contains 6% fat ,how much cream is in the mixture
Answers: 1
image
Mathematics, 22.06.2019 02:10, Lkirjnnfcxd5039
Triangle xyz, with vertices x(-2, 0), y(-2, -1), and z(-5, -2), undergoes a transformation to form triangle x′y′z′, with vertices x′(4, -2), y′(4, -3), and z′(1, -4). the type of transformation that triangle xyz undergoes is a . triangle x′y′z′ then undergoes a transformation to form triangle x′y′z′, with vertices x″(4, 2), y″(4, 3), and z″(1, 4). the type of transformation that triangle x′y′z′ undergoes is a .
Answers: 1
You know the right answer?
Insurance companies use probability and expected value to determine their rates. Suppose that 100,00...

Questions in other subjects:

Konu
Biology, 14.07.2021 16:20
Konu
History, 14.07.2021 16:20
Konu
Mathematics, 14.07.2021 16:20
Konu
English, 14.07.2021 16:20