SOLUTION: I nned to see the work so i can figure these types of problems on my own. Any help is greatly appreciated!!!
An insurance company will insure a $300,000 home for its total valu
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An insurance company will insure a $300,000 home for its total valu
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Question 924881: I nned to see the work so i can figure these types of problems on my own. Any help is greatly appreciated!!!
An insurance company will insure a $300,000 home for its total value for an annual premium of $540. If the company spends $30 per year to service such a policy, the probability of total loss for such a home in a given year is 0.001 and you assume either total loss or no loss will occur, what is the company's expected annual gain (or profit) on each such policy? Answer by ewatrrr(24785) (Show Source):
