An insurance company charges Ted $1400 per year for insurance on his home. The company has predicted that there is a 10% chance that Ted will make a claim on the policy of $5000. Create a probability distribution and determine what the insurance company can expect to make on this policy, on average?

Answers

Answer 1

Answer:

The insurance company can expect to make $900 on the policy

Step-by-step explanation:

The given parameters are;

The amount Ted pays per year for insurance on his home = $1,400

The value of the insurance policy = $5000

The chance that Ted will make a claim on the policy = 10%

The expected value is given as follows

Incidence    [tex]{}[/tex]                 Probability        Value                                   v × p

A claim is made  [tex]{}[/tex]          0.1                  $5,000 - $1,400 = -$3,600    -$360

No claim  [tex]{}[/tex]                      0.9  [tex]{}[/tex]               $1,400                                     $1260

Expected value is $1,260 - $360 = $900

The value the insurance company can be expected to make on average on the policy is $900                                                                                      


Related Questions

Solve for x.

2/3 ( 1/2x + 12) = 1/2 (1/3x + 14) - 3

Answers

x = -24

Step-by-step explanation:

i hope this helps :)

Answer:A

Step-by-step explanation:

the expression -6 -7(4+3x) is equivent to

Answers

Answer:

Done!

Step-by-step explanation:

-6 - 7(4 + 3x)

Distribute;

-6 - 28 - 21x

-34 - 21x

A store purchases homemade cookies for $1.00 each.
The percent markup is 15%. How much do they sell each cookie for?​

Answers

Answer:

$1.15

Step-by-step explanation:

1*15=15

15/100=.15

1+.15=1.15

Color of socks
Number of socks
white
9
black
2
blue
5
brown
8
9
From the table, the ratio of white socks to brown socks is
Select two latios equivalent to the ratio of white socks to brown socks.
45
27
24
B
40
45
24
28
41

Answers

Answer:

45:40

27:24

Step-by-step explanation:

45:40 c=5

27:24 c=3

Use the​ slope-intercept form to graph the equation y=3/7x+3

Answers

Answer:

here you go

Step-by-step explanation:

What is 71.00725175 to 3sf

Answers

Answer:

71.0

Step-by-step explanation:

please help. I don't understand ​

Answers

Answer:

ACB = 72

Step-by-step explanation:

OAD is straight line.

∠DAB +  ∠OAB  = 180

142 + ∠OAB  = 180

          ∠OAB = 180 - 142

          ∠OAB =  38

ΔAOB is isosceles triangle. OA = OB = radius

∠OAB = ∠OBA = 38   {angles opposite to equal sides or equal}

In ΔAOB ,

∠OAB + ∠OBA + ∠AOB = 180   {Anlge sum property of triangle}

   38 + 38 + ∠AOB = 180

               76 + ∠AOB = 180

                       ∠AOB = 180 - 76

                       ∠AOB = 104

THe angle subtended by an arc of a circle at the center is double the angle subtended by it at any point on the remaining part of the circle

∠AOB =  2*∠ACB

∠ACB = ∠AOB/2

         = 104/2

ACB = 72

The table below represents a linear function f(x) and the equation represents a function g(x):

Part A: Write a sentence to compare the slope of the two functions and show the steps you used to determine the slope of f(x) and g(x). (6 points)

Part B: Which function has a greater y-intercept? Justify your answer. (4 points)

Answers

Answer:

Slope of f(x) is greater than slope of g(x)

g(x) has a greater y intercept

Step-by-step explanation:

Given

f(x) table

[tex]g(x) = 2x + 6[/tex]

Solving (a):

First, we determine the slope of f(x).

From the table, we take any two corresponding values of x and f(x).

Represent f(x) with y

[tex](x_1,y_1) = (-1.-12)[/tex]

[tex](x_2,y_2) = (0.-6)[/tex]

The slope (m) is calculated as thus

[tex]m = \frac{y_2 - y_1}{x_2 - x_1}[/tex]

[tex]m = \frac{-6 - (-12)}{0 - (-1)}[/tex]

[tex]m = \frac{-6 +12}{0 +1}[/tex]

[tex]m = \frac{6}{1}[/tex]

[tex]m = 6[/tex]

Represent this with m1

[tex]m_1 = 6[/tex]

Calculating the slope of g(x).

The general form of an equation is [tex]y = mx + b[/tex]

Where m represents the slope.

We have that:

[tex]g(x) = 2x + 6[/tex]

By comparing  [tex]g(x) = 2x + 6[/tex] with [tex]y = mx + b[/tex]

[tex]m = 2[/tex]

Represent this with m2

[tex]m_2 = 2[/tex]

Comparing both slope, we can say that:

f(x) has a greater than slope of g(x)

Another comparison is that:

Slope of f(x) is 3 times the slope of g(x)

Solving (b): Function with greater y intercept.

The general form of an equation is [tex]y = mx + b[/tex]

Where b represents the y intercept.

First, we need to determine the equation of f(x) using:

[tex]y - y_1 = m(x - x_1)[/tex]

Recall that, from the table of f(x):

[tex](x_1,y_1) = (-1.-12)[/tex]

[tex](x_2,y_2) = (0.-6)[/tex]

[tex]m_1 = 6[/tex]

So:

[tex]y - y_1 = m(x - x_1)[/tex]

[tex]y - (-12) = 6(x - (-1))[/tex]

[tex]y + 12 = 6(x +1)[/tex]

[tex]y + 12 = 6x +6[/tex]

Solve for y

[tex]y = 6x + 6 - 12[/tex]

[tex]y = 6x - 6[/tex]

By comparing this with [tex]y = mx + b[/tex], the y intercept of f(x) is -6

For g(x), we have:

[tex]g(x) = 2x + 6[/tex]

By comparing this with [tex]y = mx + b[/tex], the y intercept of g(x) is 6

Comparing the y intercepts of both functions, g(x) has a greater y intercept because [tex]6 > -6[/tex]

Lisa purchased groceries worth $34 for a party. A gallon of milk costs $2.50, a gallon of ice cream costs $7.50, and a gallon of lemonade costs $3.00. If Lisa bought 4 gallons of milk, and 2 gallons of ice cream, how many gallons of lemonade did she buy?

Answers

Answer:

3

Step-by-step explanation:

4×2.5=10

2×7.5=15

10+15=25

34-25=9

9÷3=3

Answer:

3

Step-by-step explanation:

4(2.50)=10

2(7.50)=15

15+10=25

34-25=9

3(3)=9

25+9=34

Choose the graph of this equation.

Answers

Answer:

C

Step-by-step explanation:

the y-intercept is -2 and the slope is up 3 left two which is -3/2

Josiah buys a video game for $20 plus a 6% tax. Elliot buys a basketball for $18 plus a 6% tax. Enter the difference in the amount Josiah and Elliot paid, including tax. Round your answer to the nearest cent.

Answers

Josiah payed $2.12 more than Elliot
Josiah payed $21.20
Eliot payed $19.08
6% of 20= $1.20
6% of 18= $1.08

Square numbers between 300 and 400

Answers

324, 361, 400

18^2=324
19^2=361
20^2=400

Please help me please thank you sm in advance

Answers

The answer is 30.5 BRANLIEST? :)

I NEED HELP ASAP THANKSSS

factor x^2 +9x+20

Answers

Answer:

(x + 5)(x + 4)

Step-by-step explanation:

[tex]x^{2} +9x+20=(x+5)(x+4)[/tex]

Answer:

Step-by-step explanation:

x^2+9x+20

(x+4)(x+5)

solve for x 2(3x-2)-4x+1=9 linear equations with disbribution

Answers

Answer:

x=-2/3,2

Step-by-step explanation:

Answer:

x = 6

Step-by-step explanation:

2 (3x - 2) - 4x + 1 = 9

Distribute the 2 to 3x and -2

6x - 4 - 4x + 1 = 9

Combine like terms

2x - 3 = 9

Add three to both sides

2x = 12

Divide by 2

x = 6

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Answer:

9

Step-by-step explanation:

What is the area of a right triangle that measure 8” high and has a 4” base?

Answers

Answer:

the answer is 16 im pretty sure

Step-by-step explanation: hope this helps :)

The freshmen class is going on a field trip. There are 316 people going.
Six people will be traveling by car and there are five buses. How many
people must ride on each bus?
Need help for the equation

Answers

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Mari and Rob are making a poster for the science fair. They need to figure out how much a rock that weighs 7 pounds on Earth would weigh on Mars. They know that they can multiply the amount the rock weighs on Earth by 0.38 to find its weight on Mars. Circle the partial products Mari and Rob would need to add to find the product of 7 and 0.38. Mark all that apply. Which problems will have two decimal places in the product? Mark all that apply.

Answers

Answer: a big rock

Step-by-step explanation: i am just dumb and lazy

Which of these graphs represents a rate of change of 4?

Answers

The last graph because the slope is 40. Slope equals rise over run Rise is 4/ Run is 1 4/1=4 Slope (rate of change)=4C

Is 700​% of 8 less than​ 10, greater than 10 but less than​ 100, or greater than​ 100?

Answers

Answer:

Greater than 10 but less than 100.

Step-by-step explanation:

ill give u brainliest

Answers

Answer:

D

Step-by-step explanation:

Answer
D I could be wrong
Exactly

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Answers

Answer:

scalene right

Step-by-step explanation:

no side congruent and right

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Answers

Answer:

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Step-by-step explanation:

sorry if this is wrong. I don't understand

Katie empties her purse and finds that it contains only nickels (worth 5 cents each) and dimes (worth 10
cents each). If she has a total of 7 coins and they have a combined value of 45 cents, how many of each coin
does she have?

Answers

Answer:

Step-by-step explanation:

2 dimes and 5 nickels

Dimes: 10 × 2 = 20

Nickels: 5 × 5 = 25

Answer:

5 nickel and two dimes

Step-by-step explanation:

let let X be the number of Nickels

number of X is equals to 7 - x

5x+ 10*(7-x)= 45

X= 5

thus nickel is 5 and dimes is 2

given the equation what is the slope of the parallel line
[tex]y = \frac{3}{2} x + 4[/tex]

Answers

The slope is 3/2. Because the equation is given in slope intercept for y=mx+c and m is slope

Given h(x) = 4x – 5, solve for x when h(x) = 7.

Answers

Answer: x = 3 when  h(x) = 7.

Step-by-step explanation:

h(x) = 4x -5      To solve for x when h(x) = 7,  you will set the expression 4x -5 equals 7 to solve for x.

4x -5 = 7    Add 5 to both sides

   +5   +5

4x = 12       Divide both sides by 4.

x= 3

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C. (-2,-4)
D. (-4,-2)

Answers

ABCD 1234 AEIOU = meow meow i’m not a cow who who

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Answer:

DEMOS LOS

Step-by-step explanation:

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Answer:

A

Step-by-step explanation:

Answer:

Step-by-step explanation:

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