A car insurance policy costs P7000 per year from an insurance firm. The insurer shall pay P10,000 for a minor accident and P50000 for a big accident, according to the policy. How much can an insurance company expect to make on a policy if the probability of a motorist having a minor accident over the year is 0.20 and a big accident is 0.05? a. 1500 b. 4500 c. 3500 d. 2500
A car insurance policy costs P7000 per year from an insurance firm. The insurer shall pay P10,000 for a minor accident and P50000 for a big accident, according to the policy. How much can an insurance company expect to make on a policy if the probability of a motorist having a minor accident over the year is 0.20 and a big accident is 0.05? a. 1500 b. 4500 c. 3500 d. 2500
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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A car insurance policy costs P7000 per year from an insurance firm. The insurer
shall pay P10,000 for a minor accident and P50000 for a big accident, according
to the policy. How much can an insurance company expect to make on a policy if
the probability of a motorist having a minor accident over the year is 0.20 and a
big accident is 0.05?
a. 1500
b. 4500
c. 3500
d. 2500
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