
Contemporary Mathematics for Business and Consumers
7th Edition
ISBN: 9781285189758
Author: Robert Brechner, George Bergeman
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 19, Problem 14CR
To determine
To fill: The blank of the statement, “In motor vehicle insurance, companies often use __________ factors to adjust premiums upward or downward depending on the amount of risk involved in the coverage.”
Expert Solution & Answer

Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
You manage a chemical company with 2 warehouses. The following quantities of
Important Chemical A have arrived from an international supplier at 3 different
ports:
Chemical Available (L)
Port 1
Port 2
Port 3
400
110
100
The following amounts of Important Chemical A are required at your warehouses:
Warehouse 1
Warehouse 2
Chemical Required (L)
380
230
The cost in £ to ship 1L of chemical from each port to each warehouse is as follows:
Warehouse 1 Warehouse 2
Port 1
£10
£45
Port 2
£20
£28
Port 3
£13
£11
(a) You want to know how to send these shipments as cheaply as possible. For-
mulate this as a linear program (you do not need to formulate it in standard
inequality form) indicating what each variable represents.
a) Suppose that we are carrying out the 1-phase simplex algorithm on a linear program in
standard inequality form (with 3 variables and 4 constraints) and suppose that we have
reached a point where we have obtained the following tableau. Apply one more pivot
operation, indicating the highlighted row and column and the row operations you carry
out. What can you conclude from your updated tableau?
x1 12 23
81
82
83
S4
$1
-20
1 1
0
0
0
3
82
3 0
-2
0
1
2
0
6
12
1
1
-3
0
0
1
0
2
84
-3 0
2
0
0
-1 1 4
2
-2
0 11
0
0
-4
0
-8
b) Solve the following linear program using the 2-phase simplex algorithm. You should give
the initial tableau and each further tableau produced during the execution of the
algorithm. If the program has an optimal solution, give this solution and state its
objective value. If it does not have an optimal solution, say why.
maximize 21 - - 2x2 + x3 - 4x4
subject to 2x1+x22x3x4≥ 1,
5x1+x2-x3-4 -1,
2x1+x2-x3-342,
1, 2, 3, 4 ≥0.
Suppose we have a linear program in standard equation form
maximize c'x
subject to Ax=b,
x≥ 0.
and suppose u, v, and w are all optimal solutions to this linear program.
(a) Prove that zu+v+w is an optimal solution.
(b) If you try to adapt your proof from part (a) to prove that that u+v+w
is an optimal solution, say exactly which part(s) of the proof go wrong.
(c) If you try to adapt your proof from part (a) to prove that u+v-w is an
optimal solution, say exactly which part(s) of the proof go wrong.
Chapter 19 Solutions
Contemporary Mathematics for Business and Consumers
Ch. 19.I - Prob. 1TIECh. 19.I - Prob. 2TIECh. 19.I - Prob. 3TIECh. 19.I - Calculate the annual, semiannual, quarterly, and...Ch. 19.I - Calculate the annual. semiannual, quarterly, and...Ch. 19.I - Prob. 3RECh. 19.I - Calculate the annual. semiannual, quarterly, and...Ch. 19.I - Prob. 5RECh. 19.I - Calculate the annual. semiannual, quarterly, and...Ch. 19.I - Calculate the annual. semiannual, quarterly, and...
Ch. 19.I - Calculate the annual. semiannual, quarterly, and...Ch. 19.I - Prob. 9RECh. 19.I - Calculate the value of the nonforfeiture options...Ch. 19.I - Prob. 11RECh. 19.I - Prob. 12RECh. 19.I - Calculate the value of the nonforfeiture options...Ch. 19.I - Calculate the value of the nonforfeiture options...Ch. 19.I - Leroy Kirk is 35 years old and is interested in...Ch. 19.I - 16. Rene Boyer, age 27. wants to purchase a 5-year...Ch. 19.I - Carmen Gutierrez purchased a $75,000, 20-payment...Ch. 19.I - 18. Alex Baron is evaluating his life insurance...Ch. 19.I - Richard Ryan is evaluating his life insurance...Ch. 19.I - BUSINESS DECISION: THE CONSULTATION
20. Tina...Ch. 19.II - You are the insurance agent for Diamond...Ch. 19.II - Prob. 5TIECh. 19.II - Prob. 6TIECh. 19.II - Prob. 7TIECh. 19.II - Prob. 8TIECh. 19.II - Prob. 1RECh. 19.II - Prob. 2RECh. 19.II - Prob. 3RECh. 19.II - Calculate the building, contents, and total...Ch. 19.II - Prob. 5RECh. 19.II - Prob. 6RECh. 19.II - Prob. 7RECh. 19.II - Prob. 8RECh. 19.II - Prob. 9RECh. 19.II - Calculate the short-term premium and refund for...Ch. 19.II - Calculate the short-term premium and refund for...Ch. 19.II - Calculate the short-term premium and refund for...Ch. 19.II - Prob. 13RECh. 19.II - Prob. 14RECh. 19.II - Prob. 15RECh. 19.II - Calculate the amount to be paid by the insurance...Ch. 19.II - Prob. 17RECh. 19.II - Calculate the amount to be paid by the insurance...Ch. 19.II - Prob. 19RECh. 19.II - You are the insurance agent for Castle Mountain...Ch. 19.II - A property insurance policy has an annual premium...Ch. 19.II - 22. Insignia Enterprises has a property insurance...Ch. 19.II - Prob. 23RECh. 19.II - BUSINESS DECISION: BUSINESS INTERRUPTION INSURANCE...Ch. 19.III - Jeff Wasserman, owner of High Performance Racing...Ch. 19.III - Prob. 10TIECh. 19.III - Prob. 1RECh. 19.III - Prob. 2RECh. 19.III - Prob. 3RECh. 19.III - As an insurance agent, calculate the annual...Ch. 19.III - Prob. 5RECh. 19.III - Prob. 6RECh. 19.III - Prob. 7RECh. 19.III - As an insurance agent, calculate the annual...Ch. 19.III - 9. Rick Clinton wants to purchase an automobile...Ch. 19.III -
10. Howard Marshall’s Corvette was hit by a palm...Ch. 19.III - Ben Hoffman has motor vehicle liability insurance...Ch. 19.III - BUSINESS DECISION: INSURING THE FLEET
12. The...Ch. 19 - A mechanism for reducing financial risk and...Ch. 19 - 2. The amount of protection provided by an...Ch. 19 - Prob. 3CRCh. 19 - Prob. 4CRCh. 19 - Prob. 5CRCh. 19 - Prob. 6CRCh. 19 - Prob. 7CRCh. 19 - Prob. 8CRCh. 19 - The premium charged when a policy is canceled by...Ch. 19 - The clause in a property insurance policy...Ch. 19 - Prob. 11CRCh. 19 - Prob. 12CRCh. 19 - Prob. 13CRCh. 19 - Prob. 14CRCh. 19 - Prob. 1ATCh. 19 - Calculate the annual, semiannual, quarterly, and...Ch. 19 - Calculate the annual, semiannual, quarterly, and...Ch. 19 - Calculate the annual, semiannual, quarterly, and...Ch. 19 - Prob. 5ATCh. 19 - Prob. 6ATCh. 19 - Prob. 7ATCh. 19 - 8. Mary Hall purchased a $45,000 20-year endowment...Ch. 19 - Prob. 9ATCh. 19 - Calculate the building, contents, and total...Ch. 19 - Prob. 11ATCh. 19 - Prob. 12ATCh. 19 - Prob. 13ATCh. 19 - Calculate the short-term premium and refund for...Ch. 19 - Prob. 15ATCh. 19 - Calculate the amount to be paid by the insurance...Ch. 19 - Prob. 17ATCh. 19 - Prob. 18ATCh. 19 - Prob. 19ATCh. 19 - Prob. 20ATCh. 19 - Prob. 21ATCh. 19 - Prob. 22ATCh. 19 - Prob. 23ATCh. 19 - Prob. 24AT
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- (a) For the following linear programme, sketch the feasible region and the direction of the objective function. Use you sketch to find an optimal solution to the program. State the optimal solution and give the objective value for this solution. maximize +22 subject to 1 + 2x2 ≤ 4, 1 +3x2 ≤ 12, x1, x2 ≥0 (b) For the following linear programme, sketch the feasible region and the direction of the objective function. Explain, making reference to your sketch, why this linear programme is unbounded. maximize ₁+%2 subject to -2x1 + x2 ≤ 4, x1 - 2x2 ≤4, x1 + x2 ≥ 7, x1,x20 Give any feasible solution to the linear programme for which the objective value is 40 (you do not need to justify your answer).arrow_forwardfind the domain of the function f(x)arrow_forwardFor each of the following functions, find the Taylor Series about the indicated center and also determine the interval of convergence for the series. 1. f(x) = ex-2, c = 2 Π == 2. f(x) = sin(x), c = 2arrow_forward
- QUESTION 5. Show that if 0 ≤r≤n, then r+2 r r (c) + (+³) + (+³) +- + (*) -(+) n n+ = r (1)...using induction on n. (2) ...using a combinatorial proof.arrow_forwardUse a power series to approximate each of the following to within 3 decimal places: 1. arctan 2. In (1.01)arrow_forwardFor each of the following power series, find the interval of convergence and the radius of convergence: n² 1.0 (x + 1)" n=1 շո 3n 2. Σ n=1 (x-3)n n3arrow_forward
- Use a known series to find a power series in x that has the given function as its sum: 1. xcos(x³) 2. In (1+x) xarrow_forwardif n is odd integer then 4 does not divide narrow_forwardor W Annuities L Question 2, 5.3.7 > Find the future value for the ordinary annuity with the given payment and interest rate. PMT = $2,000; 1.65% compounded quarterly for 11 years. The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.) example Get more help Q Search 30 Larrow_forward
- Find the cdf of a random variable Y whose pdf is given by; 2, 0≤x≤1 1/3, 0≤x≤1 a) f(x)=3, 2≤x≤4 0, elsewhere 2, 1≤x≤2 b) f(x)= (3-x)2, 2≤x≤3 0, elsewherearrow_forwardFor all integers a and b, a + b is not ≡ 0(mod n) if and only if a is not ≡ 0(mod n)a or is not b ≡ 0(mod n). Is conjecture true or false?why?arrow_forwardor W Annuities L Question 2, 5.3.7 > Find the future value for the ordinary annuity with the given payment and interest rate. PMT = $2,000; 1.65% compounded quarterly for 11 years. The future value of the ordinary annuity is $ (Do not round until the final answer. Then round to the nearest cent as needed.) example Get more help Q Search 30 Larrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillTrigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage Learning
- College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage LearningHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage

Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill


Trigonometry (MindTap Course List)
Trigonometry
ISBN:9781337278461
Author:Ron Larson
Publisher:Cengage Learning

College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning

Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Introduction to Integers,Maths - What are integers - English; Author: Mathispower4u;https://www.youtube.com/watch?v=04pURxo-iu0;License: Standard YouTube License, CC-BY
Integers-Middle School Math; Author: MooMooMath and Science;https://www.youtube.com/watch?v=DGWcWtqM_yk;License: Standard YouTube License, CC-BY