Mathematics, 24.07.2021 22:30 BreBreDoeCCx
The table shows claims and their probabilities for an insurance company.
a. Calculate the expected value.
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b. How much should the company charge as an average premium so that it breaks even on its claim costs?
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c. How much should the company charge to make a profit of $50 per policy?
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Answers: 3
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The table shows claims and their probabilities for an insurance company.
a. Calculate the expected...
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