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An insurance company wants to estimate the premium to be charged for a $200,000 homeowner's policy that covers fire, theft, vandalism, and natural calamities. Flood and earthquakes are not covered. The company has estimated from historical data that a total loss may happen with a probability of 0.0005, a 50% loss with a probability of 0.001, and a 25% loss with a probability of 0.01.
Ignoring all other losses, what premium should the company charge to make an average net profit of 1.5% of the policy's face value?
Queen Elizabeth II is famously the longest reigning monarch of the UK, followed by Queen Victoria - but who is third?
a comparison between the average jail time of bank robbers and car thieves yielded the following results in yearsn180
Direct versus Indirect Exchange Rates Assume that during this semester, the euro appreciated against the dollar. Did the direct exchange rate of the euro increase or decrease? Did the indirect exchange rate of the euro increase or decrease?
suppose the probability of a customer purchasing 0 1 0r 2 books at a bookstore are 0.2 0.2 and 0.6 respectively. what
what is the probability that a random selected degree is not in mathematics? english 2103 math 164 chemistry 318
Identify a real-life example or application of either the binomial or poisson distribution.
We can use two products at my work, which are mutual funds and see if there is a correlation between the two. The two different funds are: a domestic stock mutual fund, which only invests in large organizations (large cap companies) based here in..
A meat packer is investigating the marked mass shown on Vienna sausages. A pilot study showed a mean of 11.8kg per pack and a standard deviation of 0.7kg.
When creating a 99% confidence interval for the true average difference in cholesterol levels by the drug, what is the margin of error?
a. Determine the mean and median for the PHSI between January 2004 and August 2005. Specify the shape of the PHSI's distribution. b. The PHSI was at 111.0 in January 2004 and it was at 129.5 in August of 2005. Determine the average monthly increa..
What would the insurance company have to charge per policy-holder to break even? (i.e., what the premium would have to be in order to have an expected profit of zero.) Round to the nearest dollar.
question 1 a persons blood glucose level and diabetes are closely related. let x be a random variable measured in
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