SOLUTION: 1. the table shows claims and their probabilities for an insurance company.
Amount of claim
$0 ----- 0.60
$50,0000 ----- 0.25
$100,000 ----- 0.09
$150,000 ----
Algebra.Com
Question 631571: 1. the table shows claims and their probabilities for an insurance company.
Amount of claim
$0 ----- 0.60
$50,0000 ----- 0.25
$100,000 ----- 0.09
$150,000 ----- 0.04
$200,000 ----- 0.01
$250,000 ----- 0.01
Calculate the expected cost per policy ( expected value).
2. YOU ARE DEALT ONE CARD FROM A 52 CARD DECK. THEN THE CARD IS REPLACED IN THE DECK,THE DECK IS SHUFFLED, AND YOU DRAW AGAIN. FIND THE PROBABILITY OF GETTING A PICTURE CARD THE FIRST TIME AND A CLUB THE SECOND TIME.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Just multiply the probability times the amount.
John
My calculator said it, I believe it, that settles it
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