An insurance company estimates that it should make an annual profit of $120 on each homeowner's...
An insurance company estimates that it should make an annual profit of $120 on each homeowner's policy written, with a standard deviation of $4000. Complete parts a) through e). a) Why is the standard deviation so large?
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An insurance company estimates that it should make an annual
profit of $120 on each homeowner's...
Time Remain This Question: 1 pt | 360f 36 (1 7 complete) An insurance company estimates...
Time Remain This Question: 1 pt | 360f 36 (1 7 complete) An insurance company estimates that it should make an annual profit of $230 on each homeowner's policy writhen, with a standard deviation of $6000 Complete parts alj through c. a) Why is the standard deviation so large? O A. The insurance company will either make a very large amount of money on a policy or lose a large amount of money for a cleim, which resuits in a...
2) [2096] Penguin auto insurance estimates that there exists a .23 probability that 16-year-old d...
2) [2096] Penguin auto insurance estimates that there exists a .23 probability that 16-year-old driving a red, two-door, 8-cylinder engine car will get into an accident that would cost the maximum amount in liability of $100,000. The annual premium for such a policy is $2,500. Q1) What is the expected profit per year for Penguin on such a policy? Q2) What profit must Penguin charge in order to make a profit on each policy? 3.120%) Recent research at Viking auto...
This is the Full Question. There are not anymore details. Neighborhood Insurance sells fire insurance policie...
This is the Full Question. There are not anymore details.
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $360, the probability of a fire is 01%, and in the event of a fire, the insured damages (the payout on the policy) will be $350,000 a. Make a table of the two possible peyouts on each policy with the probability of each, Outcome A: No Fire Outcome B: Fire! Payout b. Suppose you own the entire firm,...
I really need a help with it please. Thank you. Neighborhood Insurance sells fire insurance policies to local ho...
I really need a help with it please. Thank you.
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $170, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $160,000 a. Make a table of the two possible payouts on each policy with the probability of each Answer is complete but not entirely correct. Outcome Outcome Fire! No Fire 170 Payout $...
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $300, the probability of...
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $300, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $290,000. a. Make a table of the two possible payouts on each policy with the probability of each. b. Suppose you own the entire firm, and the company issues only one policy. What are the expected value, variance and standard deviation of your...
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $270, the probability of...
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $270, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $260,000. a. Make a table of the two possible payouts on each policy with the probability of each. b. Suppose you own the entire firm, and the company issues only one policy. What are the expected value, variance and standard deviation of your...
65. More on insurance An insurance company claims 7 that in the entire population of homeowners,...
65. More on insurance An insurance company claims 7 that in the entire population of homeowners, the mea annual loss from fire is μ-5250 and the standard deviation of the loss is σ 5000, The distribution of fosses is strongly right-sken ed:用ant pdilcies have S0 loss, but a few have large losses. The company hopes to sell 1000 of these policies for $300 each (b) If the company wants to be 90%eertainthat themean loss from fire in an SRS of...
please hightlight the answers Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is...
please hightlight the answers
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $200, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $190,000 a. Make a table of the two possible payouts on each policy with the probability of each. Outcome A: No Fire $ o Outcome B: Fire! 190,000 Payout b. Suppose you own the entire firm, and the company...
better photo s t insurance company charges 515 fo ring that the male will live through...
better photo
s t insurance company charges 515 fo ring that the male will live through the year if the male does not survive the year, the There is a policy pays randomly selected 32 year old maleves through the year. A benet Complete parts(a) through (c) below a some w hat many pong to the evening the year and not surviving The vale componding to suring the years The value corresponding to surviving the years pe wegenser round) Round...
A manufacturing company is launching a new consumer product. The manufacturing company is considering taking out...
A manufacturing company is launching a new consumer product. The manufacturing company is considering taking out an insurance policy to cover possible losses incurred by marketing the new product. If the product is a complete failure, the manufacturing company will incur a loss of $80,000. If the product is only moderately successful, the manufacturing company's loss is estimated to be $25,000. At the insurance company, insurance actuaries have determined that the chances that the product would be a complete failure...
Time Remain This Question: 1 pt | 360f 36 (1 7 complete) An insurance company estimates that it should make an annual profit of $230 on each homeowner's policy writhen, with a standard deviation of $6000 Complete parts alj through c. a) Why is the standard deviation so large? O A. The insurance company will either make a very large amount of money on a policy or lose a large amount of money for a cleim, which resuits in a...
2) [2096] Penguin auto insurance estimates that there exists a .23 probability that 16-year-old driving a red, two-door, 8-cylinder engine car will get into an accident that would cost the maximum amount in liability of $100,000. The annual premium for such a policy is $2,500. Q1) What is the expected profit per year for Penguin on such a policy? Q2) What profit must Penguin charge in order to make a profit on each policy? 3.120%) Recent research at Viking auto...
This is the Full Question. There are not anymore details.
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $360, the probability of a fire is 01%, and in the event of a fire, the insured damages (the payout on the policy) will be $350,000 a. Make a table of the two possible peyouts on each policy with the probability of each, Outcome A: No Fire Outcome B: Fire! Payout b. Suppose you own the entire firm,...
I really need a help with it please. Thank you.
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $170, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $160,000 a. Make a table of the two possible payouts on each policy with the probability of each Answer is complete but not entirely correct. Outcome Outcome Fire! No Fire 170 Payout $...
65. More on insurance An insurance company claims 7 that in the entire population of homeowners, the mea annual loss from fire is μ-5250 and the standard deviation of the loss is σ 5000, The distribution of fosses is strongly right-sken ed:用ant pdilcies have S0 loss, but a few have large losses. The company hopes to sell 1000 of these policies for $300 each (b) If the company wants to be 90%eertainthat themean loss from fire in an SRS of...
please hightlight the answers
Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $200, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $190,000 a. Make a table of the two possible payouts on each policy with the probability of each. Outcome A: No Fire $ o Outcome B: Fire! 190,000 Payout b. Suppose you own the entire firm, and the company...
better photo
s t insurance company charges 515 fo ring that the male will live through the year if the male does not survive the year, the There is a policy pays randomly selected 32 year old maleves through the year. A benet Complete parts(a) through (c) below a some w hat many pong to the evening the year and not surviving The vale componding to suring the years The value corresponding to surviving the years pe wegenser round) Round...
A manufacturing company is launching a new consumer product. The manufacturing company is considering taking out an insurance policy to cover possible losses incurred by marketing the new product. If the product is a complete failure, the manufacturing company will incur a loss of $80,000. If the product is only moderately successful, the manufacturing company's loss is estimated to be $25,000. At the insurance company, insurance actuaries have determined that the chances that the product would be a complete failure...
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