1. An insurance company's loss ratio is 60, Expense ratio is 30, Dividend ratio is 2, and Investment ratio is 8 -- the insurance company's combined ratio is 

2. A lottery ticket advertises that the winning amount is $100,000 with a probability of winning of 0.01% - what is the expected value?

3. Based on Zach's driving record, demographics, his driving patterns (times, routes etc) an insurance company estimates the following:

There is a 1% chance that Zach's vehicle will have a $10,000 loss

There is a 0.5% chance that Zach's vehicle will have a $50,000 loss

There is a 5% chance that Zach's vehicle will have a $3,000 loss

The rest of the time Zach's vehicle will have no losses. Based on this information, what is the pure premium that the insurance company will charge Zach's policy? (pure premium is the same as expected loss)