1. Actuarially fair premium ii. Full Insurance Using the table below, answer the following questions - b) For Individual A the full insurance amount is & the actuarially fair premium is c) For Individual I the full insurance amount is & the actuarially fair premium is d) For Individual C the full insurance amount is & the actuarially fair premium is ") For Individual D the full insurance amount is & the actuarially fair premium is 0) Assume that an insurance company offers to cover individuals upto a maximum of $35,000 a year. They charge a premium of $1300 a year. I. For whom is this actuarially fair & full I. For whom is this insurance unfair & partial Ill. For whom is this insurance unfair & full Individual A Sick Healthy Risk 95%% Income 50.000 100,000 Utility 224 316 Individual B Sick Healthy Risk 99%% Income 35.000 100,000 Utility 187 316 Individual C Sick Healthy Risk Income 80.000 100,000 Utility 283 316 35 points Homework 3 Prof. Anaka Alyar Individual D Sick Healthy Risk 1% Income 95.000 100,000 316