webapps assessment take launchisp course assessment ida 62227 18kcourse id 43a34

Question

webapps assessment take launchisp course assessment ida 62227 18kcourse id 43a34 tacontent da. tassepunui 9myUCA D Developmental Theo My Turbo laws Lebron Online at Fn aining Time: 27 minutes, 36 seconds. tion Completion Status: wfaf the probability your third wants um coverage 03333 d what is the combined probabili of the above happening? POFMM)Hint: w/o replacemento 0293 ESTION 6 The insurance 5 points Save Answer the rates of company is expected to make a percent of each po per year. They make more when someone does not use their policy Use camera applicat by type from your joint probability table ahd assume they give out 25,000 policies a year. Show your work to the larger either by using Ms Excel or showing your written work to the camera before you type in your answer. Use commas for uumbers than 999, but do not include the dollar sigu in your answer. 6 What does the company expect to make this year (Expected value) if they make the following profits per policy? S 40 for a minimum coverage. S 15 for a medium coverage. S 5 for a full coverage. ESTION 7 5 points a

Explanation / Answer

5. P(Customer is interested in full coverage) = 1 - (0.45 + 0.3) = 0.25

Total number of policies company sold = 25000

So,

Number of minimal coverage policies sold = 25000(0.45) = 11250

Number of medium covergae policies sold = 25000(0.3) = 7500

Number of full coverage policies sold = 25000(0.25) = 6250

Hence,

6. Expected profit

= 11250(40) + 7500(15) + 6250(5)

= 593,750

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.