Mathematics, 24.07.2021 07:40 rosie20052019

An insurance company estimates the probability of an earthquake in the next year to be 0.0012. The average damage done by an earthquake it estimates to be
$60,000. If the company offers earthquake insurance for $100, what is their expected
value of the policy?

Answers: 1

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More questions: Mathematics Another questions

An insurance company estimates the probability of an earthquake in the next year to be 0.0012. The average damage done by an earthquake it estimates to be $60,000. If the company offers earthquake insurance for $100, what is their expected value of the policy?

Answers

Another question on Mathematics

An insurance company estimates the probability of an earthquake in the next year to be 0.0012. The average damage done by an earthquake it estimates to be
$60,000. If the company offers earthquake insurance for $100, what is their expected
value of the policy?