{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-13T06:00:58-04:00", "answer_date": "2024-06-13 06:00:58", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2908371", "url": "\/study-help\/questions\/1-suppose-the-owner-of-a-car-worth-36k-gets-2908371", "question_creation_date_js": "2024-06-13T06:00:58-04:00", "question_creation_date": "Jun 13, 2024 06:00 AM", "meta_title": "[Solved] 1) Suppose the owner of a car worth $36K | SolutionInn", "meta_description": "Answer of - 1) Suppose the owner of a car worth $36K gets utility of v36 = 6. Due to their daily commute, however, the driver face | SolutionInn", "meta_keywords": "1,owner,car,worth,$36k,utility,v36,6,due,daily,commute,driver", "question_title_h1": "1) Suppose the owner of a car worth $36K gets utility of v36 = 6. Due to their daily commute, however, the driver faces a", "question_title": "1) Suppose the owner of a car worth $36K gets utility of", "question_title_for_js_snippet": "1) Suppose the owner of a car worth $36K gets utility of v36 6 Due to their daily commute, however, the driver faces a 20 chance of a collision that will cause $11K in damage Derive the expected value of the car What is the actuarially fair premium What is the owner's maximum willingness to pay", "question_description": "\"image
\"image<\/div><\/div><\/div><\/figure> 1) Suppose the owner of a car worth $36K gets utility of v36 = 6. Due to their daily commute, however, the driver faces a 20% chance of a collision that will cause $11K in damage. Derive the expected value of the car. What is the actuarially fair premium? What is the owner's maximum willingness-to-pay", "transcribed_text": "", "related_book": { "title": "Contemporary Business Mathematics with Canadian Applications", "isbn": "133052311, 978-0133052312", "edition": "10th edition", "authors": "S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/726.jpg", "uri": "\/textbooks\/contemporary-business-mathematics-with-canadian-applications-10th-edition-726", "see_more_uri": "" }, "free_related_book": { "isbn": "1538752840", "uri": "\/textbooks\/the-summer-house-the-classic-blockbuster-from-the-author-of-lion-and-lamb-reissue-edition-978-1538752845-105780", "name": "The Summer House The Classic Blockbuster From The Author Of Lion And Lamb", "edition": "" }, "question_posted": "2024-06-13 06:00:58", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/discuss-and-describe-in-detail-the-steps-you-should-follow", "description": "Discuss and describe in detail the steps you should follow when conducting the legal analysis.", "stars": 3 }, { "url": "\/study-help\/calculus-4th\/use-eq-2-to-expand-the-function-in-a-power-1207979", "description": "Use Eq. 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