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

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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