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Can the insurance company be expected to make a profit

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Reference no: EM132703985

Problem1 : A resident purchases an apartment dweller's insurance at P6,250 per year with her furnishings insured up to maximum of P500,000. The insurance company from the past experience feels that the probabilities of claims of P25,000, P50,000, P250,000, P500,000 are respectively, 0.1, .02, .01, .001. Can the insurance company be expected to make a profit of P500 per policy?

Reference no: EM132703985

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