Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 25, 2024

1.One insurance program involves 8 subjects with an income 5000. they are going to pay a 3000 medical bill once they get sick Question If

1.One insurance program involves 8 subjects with an income 5000. they are going to pay a 3000 medical bill once they get sick

Question

If the probability of getting sick is 1 in 20, what is the expected value

If the 8 subject bear different risks, 5% for number 1 to 3; 10% for number 4 to 6 and 20% for number 7 to 8. the insurance premium is set at 330. can the insurance stay in business? Is there a death spiral?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Business Law

Authors: Jeffrey F Beatty, Susan S Samuelson

3rd Edition

0324537123, 9780324537123

More Books

Students also viewed these Economics questions

Question

★★★★★

In a random sample of 50 students from a large university, all the students were between 18 and 20 years old. Can we conclude that the entire population of students at the university is between 18...

Answered: 1 week ago

Question

★★★★★

Arnie has an income of Y and spends it only on food and music. Let P F and P M denote the price of food and music, respectively, and denote the quantities by QF and Q M . In the absence of taxes,...

Answered: 1 week ago

Question

★★★★★

1. Use a checking system to be sure you call on and include all students.

Answered: 1 week ago

Question

★★★★★

On July 1, K. Resser opened Ressers Business Services. Ressers accountant listed the following chart of accounts: Cash Supplies Prepaid Insurance Equipment Furniture and Fixtures Accounts Payable K....

Answered: 1 week ago

Question

★★★★★

3) A furniture manufacturer has decided that its use of a single plantwide predetermined overhead allocation rate is no longer accurate. In making the transition to using multiple predetermined...

Answered: 1 week ago

Question

★★★★★

Using the data from Task 3, calculate the following: Find Diagram Solution Confidence Interval: (a) Construct a two- sided 95% confidence interval for the population mean. Confidence Interval: (b)...

Answered: 1 week ago

Question

★★★★★

PA9-5 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO1, LO2, LO3, LO4, LO9-5, LO9-6] The following transactions and adjusting entries were completed by Gravure Graphics...

Answered: 1 week ago

Question

★★★★★

Describe the advantages of the CRISP-DM and McKinsey 7-Steps of Problem-Solving approaches and what aspects these two frameworks share. Why do you think frameworks like these are important or useful...

Answered: 1 week ago

Question

★★★★★

Twenty movies were released over a particular summer and their MPAA ratings (G, PG, PG-13, R) are given in the table below. G G G PG PG PG G G G G PG G G PG PG13 PG G R PG13 G a) Complete the...

Answered: 1 week ago

Question

★★★★★

Joaquin goes for a job interview and is surprised that the interviewer asks him about his personal standards regarding how he would handle certain situations. He expected that the focus would be on...

Answered: 1 week ago

Question

★★★★★

1. A particle moves with amplitude A and period T, as shown in the figure. Express the following in terms of A and T and numerical constants (if necessary). (3 marks) M T A a. The time at which the...

Answered: 1 week ago

Question

★★★★★

When Lus provides feedback during coaching sessions with employees, he focuses on their emotions. Employee performance has not really improved from the coaching sessions. What could Lus do in...

Answered: 1 week ago

Question

★★★★★

5. List three of what you would call your core values. For each of these core values, answer the following questions. a. What is the purpose of this value in your life? b. How does this value affect...

Answered: 1 week ago

Question

★★★★★

3. What values would you say are your core values?

Answered: 1 week ago

Question

★★★★★

12. Think of a situation where you felt particularly powerless. It must be a real event that you remember relatively well. Try to think back. What was it you imagined just before you felt powerless...

Answered: 1 week ago

Previous Question Next Question