Let X be the damage incurred (in $) in a certain type of accident during a given year. Possible X values are 0, 1000, 5000, and 10000, with probabilities 0.80, 0.08, 0.10, and 0.02, respectively. A particular company offers three different policies: a $200 deductible with a $780 premium, a $500 deductible with a $700 premium, and a $1000 deductible with a $590 premium. (A $Y deductible means the insurance company pays X - Y for X Y and 0 for X Y.) Compute the expected profit for each policy.

Answers

Answer 1

Answer:

Expected profit policy 1 = $40

Expected profit policy 2 = $20

Expected profit policy 3 = $10

Step-by-step explanation:

X values     |    Probability P(x)

0                 |        0.80

1,000          |        0.08

5,000         |        0.10

10,000       |        0.02

A particular company offers three different policies:

Policy 1: $200 deductible with a $780 premium

Policy 2: $500 deductible with a $700 premium

Policy 3: $1000 deductible with a $590 premium

The company pays  X - Y in damages if X > Y and 0 otherwise.

So the expected profit is given by

Expected profit = Premium amount - Expected payout

Expected profit = Premium amount - [ (X - deductible) × P(x) ]

Expected profit Policy 1:

E(x) = $780 - [ 0×0.80 + (1,000 - 200)×0.08 + (5,000 - 200)×0.10 + (10,000 - 200)×0.02 ]

E(x) = $780 - [ 0 + 64 + 480 + 196 ]

E(x) = $780 - $740

E(x) = $40

Expected profit Policy 2:

E(x) = $700 - [ 0×0.80 + (1,000 - 500)×0.08 + (5,000 - 500)×0.10 + (10,000 - 500)×0.02 ]

E(x) = $700 - [ 0 + 40 + 450 + 190 ]

E(x) = $700 - $680

E(x) = $20

Expected profit Policy 3:

E(x) = $590 - [ 0×0.80 + (1,000 - 1,000)×0.08 + (5,000 - 1,000)×0.10 + (10,000 - 1,000)×0.02 ]

E(x) = $590 - [ 0 + 0 + 400 + 180 ]

E(x) = $590 - $580

E(x) = $10

Therefore, the expected profits for the three policies are:

Expected profit policy 1 = $40

Expected profit policy 2 = $20

Expected profit policy 3 = $10


Related Questions

a dense fog advisory means visibility is less than 1/8 of a mile

-true
-false

Answers

it’s true
Good luck

The area of a gymnasium floor is 264 square yards. the floor is 11 yards wide. How long is the floor?

Answers

Answer:

24 yards long

Step-by-step explanation:

if A=l*w then it's 264=l*11

if you divide 264 (area) by 11 (width)  then the answer is 24 which is the length

Each side of a square is increasing at a rate of 3 cm/s. At what rate is the area of the square increasing when the area of the square is 36 cm2?

Answers

Each side of the square would have to be 6 cm to have an area of 36 cm^2.  However, as a side can never be 0, and you never gave a starting size for the square, the question is unanswerable.

Find the domain of the graphed function.
10
-10
10
10
O A. -45x39
B. -43x8
C. X2-4
0
D. x is all real numbers.

Answers

Dddddddddddddddddddddd

In a Classroom, 1/6 of the students are wearing blue shirts, and 2/3 are wearing white shirts. There are 12 students in the classroom. How many students are wearing shirt other than blue shirts or white shirts?

Answers

Answer:

2

Step-by-step explanation:

firstly...you have to find the number of students wearing blue and white shirt and subtract from the total number of students to get the number if students that neither wears blue or white shirt as follows :

no wearing blue = 1/6 × 12 = 2

no.wearing white = 2/3 × 12 = 8

total number wearing blue and white = 8+2 =10

number of students not putting on either of the two colours include...= 12-10 = 2

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MARK BRAINLIEST will be appreciated please...thanks in advance

HELP PLEASE!!What method can you use to find the area of the composite figure. Check ALL that apply.

Answers

Answer:

C

Step-by-step explanation:

The reason we can use this method is because we are given a composite figure with a house shape with one triangle on top. We can use the guidance of the dotted lines to make out that a rectangle can be used to find the figure. We can see that apart from the figure, there are two congruent triangles. To find the area we would do -

First find the missing height of the smaller triangles. We would use the pythagorean theorem to find that the missing height is√5

We could do 8(4) = 32 to find the area of the rectangle.

Then, we could do 2√5/2 to find one missing triangle. We could then add the triangles to find the measures of the combined triangles as 2√5. Then, we could do 32 - 2√5 to find the area as 27.5.

Hope this helps :)

Answer:

it is A,B,D

Step-by-step explanation:

i got it right on edge

if p+4/p-4, what is the value of p

Answers

Answer:

p = 2

Step-by-step explanation:

p + 4/p - 4

multiplying through by p,

p×p + 4/p ×p - 4×p

p² + 4 - 4p = 0

p² - 4p + 4 = 0

factorizing,

p(p - 2) -2(p - 2) =0

(p -2)(p -2) =0

p-2 =0

p=2

4. Find the total area of the four walls of a room 10 m long, 8 m wide
and 3 m
high.

Answers

Answer:

268m²

Step-by-step explanation:

given,

l= 10m

b= 8m

h= 3m

A = ?

we know,

A = 2 (lb + bh + lh)

= 2 (10m×8m + 8m×3m + 10m×3m)

= 2 ( 80m² + 24m² + 30m² )

= 2 ( 134m² )

= 268m²

This not a triangle Area is length times width 10x8=80 m squared

Let x=−1−5i and y=5−i. Find x⋅y.

Answers

Answer:

-10 -24i

Step-by-step explanation:

Note : i=√-1 (imaginary number)

i² = -1

xy

= (−1−5i)(5−i)

= -5 +i -25i +5i²

=-5 +i -25i + 5(-1)

= -5 +i -25i -5

= -5 -5 +i -25i

= -10 -24i

A complex number is a number system that extends the real numbers with a particular element labelled "i" known as the imaginary unit. The value of x·y is (−10 −24i).

What is a complex number?

A complex number is a number system that extends the real numbers with a particular element labelled "i" known as the imaginary unit, and satisfies the equation i² = -1; every complex number may be represented as a + bi, where a and b are real numbers.

Given that x=−1−5i and y=5−i. Therefore, the value of x·y is,

x·y = (−1 −5i)(5-i)

     = −5 + i −25i +5i²

     = −5 −24i − 5

      = −10 −24i

Hence, the value of x·y is (−10 −24i).

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Anna spends $4.65 each weekday (20 weekdays/month) on coffee and buys a bag of coffee for $8.99 that lasts 6 months. Her monthly income is $2,350. What percent of her monthly income does she spend on coffee? 1) 0.58% 2)4.34% 3) 4.02% 4) 4.65%

Answers

Answer:

C. 4.02%

Step-by-step explanation:

Anna spends $4.65 each weekday (20 weekdays/month) on coffee and buys a bag of coffee for $8.99 that lasts 6 months. Her monthly income is $2,350. What percent of her monthly income does she spend on coffee? 1) 0.58% 2)4.34% 3) 4.02% 4) 4.65%

She spends $4.65/weekday, and there are 20 weekdays/month

In 1 month, she spends:

$4.65/weekday * 20 weekdays/month = $93/month

In 6 months, she spends 6 * $93 = $558

She buys a bag of coffee for $8.99 that lasts 6 months.

The total cost of all coffee in 6 months is:

$558 + $8.99 = $566.99

Her income in 1 month is $2,350

Her income in 6 months is 6 * $2,350 = $14,100

The percent is:

566.99/14,100 * 100% = 4.02%

Answer: 3) 4.02%

Which of the following statements about the backward elimination procedure is false? a. It does not permit an independent variable to be reentered once it has been removed. b. It is a one-variable-at-a-time procedure. c. It does not guarantee that the best regression model will be found. d. It begins with the regression model found using the forward selection procedure.

Answers

Answer:

c. It does not guarantee that the best regression model will be found.

Step-by-step explanation:

Backward elimination (or deletion) procedure requires a subsequent removal of individual independent variables in an equation to derive an appropriate regression equation. It is a step-wise operation which make use of a predefined criterion for essential variables.

One of its main importance is that it ensure that the best regression model is found by removal of inconsequential variables.

Therefore, the appropriate answer to the given question is option C.

Answer:

c. It does not guarantee that the best regression model will be found.

Step-by-step explanation:

How do you write 26,300 in scientific notation? ____× 10^____

Answers

Answer:

It's written as

[tex]2.63 \times {10}^{4} [/tex]

Hope this helps you

Answer:

2.63 * 10 ^4

Step-by-step explanation:

26,300

We want one digit to the left of the decimal

Move the decimal 4 places to the left

4 is the exponent.  Since we moved the decimal to the left, the exponent is positive

2.63 * 10 ^4

when should homeowners ask their lenders for mortgage modification

Answers

Homeowners may consider asking their lenders for mortgage modification in the following situations listed below:

When should homeowners ask their lenders for mortgage modification?

1. Financial hardship: If a homeowner is facing financial hardship as a result of a large decrease in income, unanticipated medical expenditures, or other unforeseen events

2. Changes in interest rates: If interest rates have fallen significantly after the homeowner obtained their mortgage, they may be able to negotiate a lower interest rate through mortgage modification.

3. Default: If a homeowner has fallen behind on their mortgage payments and is facing foreclosure, mortgage modification may be an option for bringing the loan up to date and avoiding foreclosure.

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Answer:

When they know they can't afford it & before the next payment

Step-by-step explanation:

Which of the following is an even function? (A) g(x)=5x+2 (B) g(x)=x (C) g(x)= x 2 (D) g(x)=x3 (E) g(x)=−|x|

Answers

Answer:

(C) g(x) = x² and (E) g(x) = -|x|

Step-by-step explanation:

If f(x) is an even function, then f(-x) = f(x).

(A)

g(x) = 5x + 2

g(-x) = 5(-x) + 2 = -5x + 2

g(-x) ≠ g(x)

(B)

g(x) = g(x) = x

g(-x) = -x

g(-x) ≠ g(x)

(C)

g(x) = x²

g(-x) = (-x)² = (-1x)² = (-1)²(x)² = x²

g(-x) = g(x)

(D)

g(x) = x³

g(-x) = (-x)³ = (-1x)³ = (-1)³(x)³ = -1x³ = -x³

g(-x) ≠ g(x)

(E)

g(x) = -|x|

g(-x) = -|-x| = -|-1x| = -(|-1|)(|x|) = -1|x| = -|x|

g(-x) = g(x)

The two triangles are similar. What is the value of x? Enter your answer in the box. x =

Answers

Answer:

the value of x=12

Step-by-step explanation:

d) the answer is d on edg.

the answer is D..........

Merry Soy, married, earns a weekly salary of $830 and claims one withholding allowance. By the percentage method, how much income tax will be withheld? (Use tables in the text or the Handbook.)

Answers

Answer:

Hello!

_____________________

The total amount of income tax to withhold is: 35.70 + 34.67 = 70.37$

Step-by-step explanation: Subtract this amount from the salary: 830 - 77.90 = 752.1 $. This is the amount subject to withholding.

The amount subject to withholding is between 521 and 1613$, which means that the income tax to withhold is: 35.70$ + 15% of excess over $521

Therefore, calculate the excess: 752.1 - 521 = 231.1$

Now, calculate the percentage: 231.1 × 15 ÷ 100 = 34.67$

Hope this helped you!

A mixture of pulverized fuel ash and Portland cement to be used for grouting should have a compression strength of more than 1300 KN/m^2. The mixture will not be used unless experimental evidence indicates conclusively that the strength specification has been met. Suppose compressive strength for specimens of this mixture is normally distributed with \sigma =60. Let \mu denote the true average compressive strength.What are the appropriate null and alternative hypothesis?

Answers

Answer:

The null hypothesis is: u >= 1300 KN/m^2

And the alternative hypothesis is:

u < 1300 KN/m^2.

Step-by-step explanation:

The null hypothesis describes hat there is no difference or assiciation between variables of a specific population or that it is a particular average value while the alternative hypothesis states otherwise.

In this case study, the null hypothesis is: u >= 1300 KN/m^2

And the alternative hypothesis is:

u < 1300 KN/m^2.

if jonny has 3 × 6 amounts of dish soap, how much dish soap does he have?!

a(I dont know)

b(18)

c(12)

d(6)
look up a skit called what's 6×3 before answering. ​

Answers

Answer: 18 (b)

Step-by-step explanation:

3x6=18

Answer:

18

Step-by-step explanation:

you can use a visual for a short answer or organize 3 dots in six groups, count in total

Solve the inequality and enter your solution as an inequality in the box below,
using "<=" for sor">=" for 2 if necessary.
-2(5x + 1) > 48
Answer here

Answers

Answer:

x < -5

Step-by-step explanation:

-2(5x + 1) > 48

Divide by -2, remembering to flip the inequality

-2/ -2(5x + 1) < 48/-2

5x +1 < -24

Subtract 1 from each side

5x+1-1 < -24-1

5x < -25

Divide by 5

5x/5 < -25/5

x < -5

An election ballot asks voters to select six city commissioners from a group of 24 candidates in how many ways can this be done? Six city commissioners can be selected from a group of 24 candidates in blank different ways

Answers

Answer:

134,596 diffrent ways.

Step-by-step explanation:

Combination has to do with selection. When n object is to be selected from n objects, this can be achieved using the combination formula as shown; \

nCr = n!/(n-r)!r!

If an election ballot asks voters to select six city commissioners from a group of 24 candidates, then the selection can be done in 24C6 different ways.

Applying the formula above:

24C6 = 24!/(24-6)!6!

24C6 = 24!/18!6!

24C6 = 24*23*22*21*20*19*18!/18!*6*5*4*3*2

24C6 = 24*23*22*21*20*19/24*30

24C6 = 23*22*21*20*19/30

24C6 = 134,596 different ways.

Hence, Six city commissioners can be selected from a group of 24 candidates in 134,596 different ways

20% of city employees ride the bus to work. This is up 10% from last year. What percent of employees rode the bus to work last year?

Answers

Answer:

18.18% of employees rode the bus to work last year

Step-by-step explanation:

This question can be solved using a rule of three.

Last year, a proportion of x employees riding the bus was 100% = 1.

This year, 20% = 0.2 ride the bus, which is 100 + 10 = 110% = 1.1 of last year.

So

0.2 - 1.1

x - 1

[tex]1.1x = 0.2[/tex]

[tex]x = \frac{0.2}{1.1}[/tex]

[tex]x = 0.1818[/tex]

0.1818*100 = 18.18%

18.18% of employees rode the bus to work last year

PLEASE HELP ITS DUE SOON ALL HELP NEEDED!!

Answers

Answer:

12345678901234567890

Answer:

[tex]95ft^2[/tex]

Step-by-step explanation:

First, note the surfaces we have. We have four triangles and one square base.  Thus, we can find the surface area of each of them and them add them all up.

First, recall the area of a triangle is [tex]\frac{1}{2} bh[/tex]. We have four of them so:

[tex]4(\frac{1}{2} bh)=2bh[/tex]

The base is 5 while the height is 7. Thus, the total surface area of the four triangles are:

[tex]2(7)(5)=70 ft^2[/tex]

We have one more square base. The area of a square is [tex]b^2[/tex]. The base is 5 so the area is [tex]25ft^2[/tex].

The total surface area is 70+25=95.

Researchers often enter a lot of data into statistical software programs. The probability of making zero to two errors per 1,000 keystrokes is 0.41, and the probability of making three to five errors per 1,000 keystrokes is 0.22. Find the probabilities (per 1,000 keystrokes) associated with each of the following.(a) at most two errors(b) at least three errors(c) at most five errors(d) more than five errors

Answers

Answer:

(a) P(0≤x≤2) = 0.41

(b) P(x≥3) = 0.59

(c) P(x≤5) = 0.63

(d) P(x≥6) = 0.37

Step-by-step explanation:

(a) The probability to have at most two errors is the probability to have 0, 1 or 2 errors or the probability of making zero to two errors. So, the probability to have at most two error is:

P(0≤x≤2) = 0.41

(b) The probability to have at least three errors is the probability to have 3 or more errors. So, it can be calculated as:

P(x≥3) = 1 - P(x≤2)

P(x≥3) = 1 - 0.41

P(x≥3) = 0.59

(c) The probability to have at most five error is the probability to have 0, 1, 2, 3, 4 or 5 errors. This can be calculated as the sum of the probability to have zero to two errors and the probability to have three to five errors as:

P(x≤5) = P(0≤x≤2) + P(3≤x≤5)

P(x≤5) = 0.41 + 0.22

P(x≤5) = 0.63

(d) The probability to have more than five errors is the probability to have 6 or more errors. So, it can be calculated as:

P(x≥6) = 1 - P(x≤5)

P(x≥6) = 1 - 0.63

P(x≥6) = 0.37

simpifly (-5x2 - 3x - 7) + (-2x3 + 6x2 - 8)

Answers

Answer:

-2x³ + x² - 3x - 15

Step-by-step explanation:

Simply combine like terms together:

-5x² - 3x - 7 - 2x³ + 6x² - 8

-2x³ + (-5x² + 6x²) - 3x + (-7 - 8)

-2x³ + x² - 3x + (-7 - 8)

-2x³ + x² - 3x - 15

Answer: -2x^3+x^2-3x-15

Step-by-step explanation:

As there is only addition and subtraction here, and the two groups of parenthesis are added, you can ignore the parenthesis.

Thus, simply combine like terms to get.

-2x^3+x^2-3x-15

Hope it helps <3

What is the complete factorization of x^2+4x-45?​

Answers

Answer:(x-5)(x+9)

Step-by-step explanation:

You want two numbers that can give you -45 in multiplication and two numbers that can add to 4 and that is -5 and 9.

Answer:  (x - 5)(x + 9)

If you have to solve, x=5 or x= -9

Step-by-step explanation: You need two numbers that multiply to be 45.

(could be 3 × 15 or 5 × 9) . The difference between the two factors needs to be 4, the coefficient of the middle term.

9 - 5 =4, so use those.  -45 has a negative sign, so one of the factors must be + and the other -  Since the 4 has the + sign, the larger factor has to be + so the difference will be positive.

So (x -5)(x + 9) are your factors. You can FOIL to be sure

x × x +=. x × 9 = 9x .  -5 ×  x = -5x . -5 × 9 = -45 .

Combine the x terms: 9x -5x = +4x  

Currently patrons at the library speak at an average of 64 decibels. Will this average decline after the installation of a new computer plug in station? After the plug in station was built, the librarian randomly recorded 47 people speaking at the library. Their average decibel level was 63.2 and their standard deviation was 5. What can be concluded at the the α α = 0.05 level of significance?

Answers

Answer:

The conclusion is that the average level of decibel at the library has changed since the installation of a new computer plug

Step-by-step explanation:

From the question we are told that

     The  population mean is  [tex]\mu = 64[/tex]

     The sample size is [tex]n = 47[/tex]

      The sample mean is  [tex]\= x = 63.2[/tex]

      The sample  standard deviation is  [tex]\sigma = 5[/tex]

       The level of significance is [tex]\alpha = 0.05[/tex]

The Null Hypothesis is  

             [tex]H_o : \mu = 64[/tex]

The Alternative Hypothesis is  

           [tex]H_a : \mu \ne 64[/tex]

The  test statistics is mathematically evaluated as

          [tex]t = \frac{\= x - \mu }{\frac{\sigma }{\sqrt{n} } }[/tex]

substituting values

           [tex]t = \frac{63.1 - 64 }{\frac{5 }{\sqrt{47} } }[/tex]

          [tex]t = -1.234[/tex]

The  negative sign show that this is a left-tail test

Now the critical value of the level of significance obtained from the critical values table is  

      [tex]z_{0.05} = 1.645[/tex]

Now  comparing the critical value of the [tex]\alpha[/tex] and the test statistics we see that  critical value is greater than the test statistic which implies that the null hypothesis is rejected.

The conclusion is that the average level of decibel at the library has changed since the installation of a new computer plug

Which of the following represents a coefficient from the expression given?

9x – 20 + x2

Answers

Answer:

1 or 9.

Step-by-step explanation:

A coefficient is "a numerical or constant quantity placed before and multiplying the variable in an algebraic expression (e.g. 4 in 4xy)".

So, in this case, the coefficient of 9x would be 9.

The coefficient of x^2 would be 1.

Hope this helps!

In the given quadratic expression 9x - 20 + x, 1, 9, and -20 are the coefficients.

What are coefficients in a quadratic expression?

In a quadratic expression of the standard form ax² + bx + c, x is the variable and a, b, and c are the numeric coefficients.

How to solve the given question?

In the question, we are asked to identify the coefficients from the given quadratic expression 9x - 20 + x².

First, we try to express the given quadratic expression, 9x - 20 + x², in the standard form of a quadratic expression, ax² + bx + c.

Therefore, 9x - 20 + x² = x² + 9x - 20.

Comparing the expression x² + 9x - 20 with the standard form of a quadratic expression ax² + bx + c, we get a = 1, b = 9, c = -20.

We know that in a quadratic expression ax² + bx + c, x is the variable and a, b, and c are the numeric coefficients.

Thus, we can say that in the given quadratic expression 9x - 20 + x², 1, 9, and -20 are the coefficients.

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help help help pls pls​

Answers

Answer:

  C.  {2.4, 4.8, 6.3, 8.8}

Step-by-step explanation:

You only need to find the first domain value to make the appropriate answer selection.

  14.1 = 7x -2.7

  16.8 = 7x . . . . . . add 2.7

  2.4 = x . . . . . . . . divide by 7

The appropriate choice is ...

  C.  {2.4, 4.8, 6.3, 8.8}

_____

In the attachment, we have applied the same "solve for x" steps to each of the range values, confirming our answer choice.

5. Look at the diagram below. Indicate whether the angles below are
adjacent or vertical.


a <1 and <2
b. <3 and <4
C. <2 and <4
d. <1 and <3

Answers

Answer:

  a. adjacent

  b. adjacent

  c. vertical

  d. vertical

Step-by-step explanation:

Adjacent angles share a side; vertical angles do not. Vertical angles share a vertex and have sides that are opposite rays.

In the diagram, adjacent angles are sequentially numbered, so numbers that differ by 1 (or 3) are adjacent angles.

Vertical angles are not adjacent, so will have angle numbers that differ by 2.

  adjacent: (a) and (b) . . . angles 1&2, 3&4

  vertical: (c) and (d) . . . angles 2&4, 1&3

I got the answer but I really don’t know if it’s correct or not, please help this is due today

Answers

Answer: x=2

Explanation: 180-52 = 128

So we have an equation:

2^3x+1=128 ( cuz they are in the same position)

Now we need to find what number that 2 raise to the power of that number is 128

And the answer is 2^7=128

Let’s go back to our equation:

2^3x+1=128
And we know that 2^7=128
Now we just have to make 3x+1=7:
3x+1=7
x=(7-1)/3
x=2

And there you have it x=2
Other Questions
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