![201889992](/avatars/20954.jpg)
201889992
19.02.2020 •
Mathematics
An insurance company issues a 1-year $1000 policy insuring against an occurrence A that historically happens to 2 out of every 100 owners of the policy. Administrative fees are $15 per policy and are not part of the company’s "profit". How much should the company charge for the policy if it requires that the expected profit per policy be $50? (Hint: If C is the premium for the policy, the company’s "profit" is C – 15 if A does not occur and C – 15 – 1000 if A does occur.)
Solved
Show answers
More tips
- A Animals and plants How to Properly Care for a Pet Decorative Rabbit at Home?...
- C Computers and Internet How to Check the Speed of My Internet?...
- H Health and Medicine 10 Ways to Cleanse Your Colon and Improve Your Health...
- W Work and Career How to Write a Resume That Catches the Employer s Attention?...
- C Computers and Internet Е-head: How it Simplifies Life for Users?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
Answers on questions: Mathematics
- M Mathematics The sum of three consecutive numbers in 132. what is the smallest of the three numbers?...
- M Mathematics The vertices of AABC are A(-6, -7), B(-3,-10) and C(-5,2). Find the vertices of AA B C . given the translation rule below. (x, y) (x - 2. y - 7) a A (-8, -14), B (-5,...
- M Mathematics Y= x (3x + 10)is this linear or non linear?...
- M Mathematics Factor the polynomial. 12x to the 4th power -10x cubed + 24x squared 20x...
- M Mathematics The Bake Stars need to arrange 718 pupcakes on trays for a pooch pool party. If each tray can hold 9 pupcakes, about how many trays will the bakery need? Choose the...
- M Mathematics Factor the polynomial....
- M Mathematics A 2-by-2 array with 2 more cubes is 6 cubes....
- M Mathematics How do you find angle RTS for rectangle QRST with the given information?...
- M Mathematics The graph of f(x)=x2 is shown. Use the parabola tool to graph the function g(x)=(1/4x)^2 . To graph a parabola, first plot the vertex then plot another point on the...
- M Mathematics Factor by grouping. 49r cubed + 42r squared -42r - 36...
Ответ:
$85
Step-by-step explanation:
For the insurance company mentioned in the question above, we have:
Outcome AA_cc AA
Profit (X) CC-15 CC-15-1000
p(x) 1-0.02=0.98 0.02
Therefore, we can deduce that the expected profit will be equivalent to:
E(X) = (CC-15)*0.98 +(CC-15-1000)*0.02 = 50
0.98CC-14.7+0.02CC-0.3-20 = 50
0.98CC+0.02CC = 50+14.7+0.3+20 = 85
CC = $85
Thus, the insurance company should charge $85 for the policy to obtain the estimated expected profit.
Ответ:
Write f(x)=x^2+2x-99 in standard form and please show your work
Step-by-step explanation:f
(
x
)
=
x
2
+
2
x
−
99