An insurance company expects 14% of its policyholders to collect claims of $300 this year and the remaining 86% to collect no claims. What is the expected value, ?, for the amount they will pay out in claims per person? ? = $ per person (in the long run)

An insurance company expects 14% of its policyholders to collect claims of $300 this year and the remaining 86% to collect no claims. What is the expected value, ?, for the amount they will pay out in claims per person? ? = $ per person (in the long run)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

Q: You have an opportunity to invest in a fund that has a yearly interest rate of 6%. How much should…

A: From the given information, it is observed that FV = $15,000, r = 6%, that is, r =0.06 and t = 3.…

Q: balance of $11,660 at an APR of 16.99%You plan to pay $500 each month in an effort to clear the debt…

A: Solution:-The loan amount on the credit card i.e. PV =$11660APR =16.99% p.a. i.e. 16.99/12 =1.41583%…

Q: The "Dogs of the Dow" are the stocks listed on the Dow with the highest dividend yield. The…

A: The data values are given below:SymbolCompanyPrice ($) as of 12/31/2020Yield as of…

Q: A loan of $1,070 was repaid at the end of 18 months with a check for $1,095 What annual rate of…

Q: You are the warehouse manager for Discovery Kitchen Supplies. On a Sunday in May, you receive a…

Q: Andrew invested $213 for 15 months in a bank and received a maturity amount of $239.50. If he had…

Q: An investor bought a 5 ½% bond at 99. Compute the current yield. (Round answer to two decimal…

Q: A man borrows 2000 TL and agrees to pay his creditor 800 TL at the end of 4 years and a final…

Q: Use the data in this story to estimate the annual earnings of the average American. Do you think the…

Q: you are paid 16.50/hr. you work 40 hr/week and 4 weeks/month. Your deductions are FICA (7.65%) and…

A: IntroductionThe gross income is the total money earned before the taxes and other deductions are…

Q: P = $700.00, r = 3%, t = 3 months A.1005.25 B.705.25 C.710.25 D.763.00

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

Q: Folgers purchased $147 million of mutual fund shares. The fund had total returns over a 3-year…

A: Given query is to find the final value after 3 years.

Q: To convert the original earnings of Casper, Nicklaus, and Kite, use the formula for converting…

Q: An insurance policy is written to cover damage to a luxury sports car. The amount of damage is…

A: Let X denotes the amount (in $) of damage. Given that X~Uniform(0,39000). The pdf of X is…

Q: A man gets a raise of 12% in salary at end of first year and further raises of 16% ,19% and 25% at…

A: The percentage change is calculated using the formula below. Percentage Change=Final value-Initial…

Q: You decide to make a small portfolio consisting of a collection of 6 of the top 10 Dogs of the Dow.…

Q: Which of the following is the balance for a single $2700 deposit in an account with an APR of 4.5%…

A: principle (p)=$2700rate (r)=4.5%Time (t)=7 years

Q: A bond was purchased on January 1, 2016 for $750. If its value increases by 8.2 % every year, how…

Question

? =	$ per person (in the long run)

Video Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

d. Predict the monthly profit for a month when advertising is $2,100. Round to the nearest cent e. If the expected profit in a particular month is $45,837, about how much should be set aside for advertising that month?
How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent. Need Help? Read It Watch It Master It
https://d2l.pima.edu/d2l/le/content/536636/viewContent/5358554/View DERIVITA Jessica Alvarado Question 9 of 15 Raul inherited $6,600.00 from his grandmother. He wants to use the money to take his family on a vacation in 23 months. He found a Certificate of Deposit (CD) that is paying 1% annual simple interest. How much, to the nearest penny, will he have if he uses this investment? Round to the nearest cent, if needed. Q QL Value 24 Qu Qu- Que Que CHECK ANSWER Que: Ques Ques Quest Quest Questi Questic Summa rch (?
Dr. Stephanie Andrews (3) Value 30000 27500 25000 22500 20000 17500 15000 12500 10000 7500 5000 2500 0 0 Value of a 2013 Chevy Impala Over Time 1 2 3 Years Since Purchase a. Estimate the value of the car at Year 3. 4 c. How much does the car depreciate each year? act A rental car company purchased a new Chevy Impala for $27,385. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $9,405. y (³) 5 b. Did you use interpolation or extrapolation to estimate the value in part a? Explain. 6 d. Write an algebraic model to find the value of the car given the years since purchase. the car at Year 3. 2
Often lottery winnings are divided into equal payments given annually for 20 – 25 years. So the present value of the winnings is worth less than the actual jackpot, depending on the rate at which money could be invested. Find the present value in dollars using the given conditions. Complete the table for each amount, interest rate, and number of payments. Jackpot Amount Interest Rate Equal Annual Payments Present Value (in dollars) $7,000,000 8% 20 $7,000,000 14% 20 $4 $7,000,000 8% 25 $ $7,000,000 14% 25 (Round to the nearest dollar as needed.)
As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) AmountFinanced InterestRate Termof Loan(years) MonthlyPI AnnualPropertyTax AnnualInsurance MonthlyPITI $230,000 9.50% 25 $ $6,573 $2,126 $
A new investment opportunity for you is an annuity that pays $850 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?
Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan. A.$281; $13,488 B.$239; $1472 C.$624; $19,952 D.$239; $11,472
If You have this information about return of stock in 3 periods: -12%, 20% and 25%. calculate: The arithmetic average. The geometric average.
A store shows a net profit of $65,250 for the year. If the store profit increases by 3.75% per year for the next 15 years what will the net profit be at that point?
A factory equipment has an initial cost of P200,000.00. Its salvage value after ten years is P20,000.00. As a percentage of the initial cost, what is the straight-line depreciation rate of the equipment?
The mean daily production of a herd of cows is assumed to be normally distributed with a mean of 32 liters, and standard deviation of 5.4 liters. A) What is the probability that daily production is less than 36.7 liters? Answer= (Round your answer to 4 decimal places.) B) What is the probability that daily production is more than 32.8 liters? Answer%3 (Round your answer to 4 decimal places.) Warning: Do not use the Z Normal Tables...they may not be accurate enough since WAMAP may look for more accuracy than comes from the table. Submit Question