What is the expected annual loss per individual car

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Research indicates that the 2 million cars in your city experience unrecoverable losses of $250 million per year from theft, collisions, and so on. What is the expected annual loss per individual car? (correct answer is 125)

If 30% of the premiums are used to cover expenses, what premium must be charged to each individual car owner?

Reference no: EM133113579

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