[Solved] a tree cutting business has an insurance

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 08, 2024

a tree cutting business has an insurance policy to cover any damages caused during the tree cutting process. the business pays an annual premium of

1500

for a policy that covers up to

500, 000

in damages. the probability of a tree causing damage is

0.002 .

what is the expected value?

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

Management Of Electronic And Digital Media

Authors: Alan B. Albarran

6th Edition

ISBN: 1305077563, 978-1305077560

More Books

Students also viewed these General Management questions

Question

★★★★★

Determine the adiabatic saturation temperature of the humid air in Prob. 14-43E. Prob. 14-43E Atmospheric air at a pressure of 1 atm and drybulb temperature of 90oF has a dew-point temperature of...

Answered: 1 week ago

Question

★★★★★

A circuit is needed that will take an input of v1(t) 25 e10tu(t) mVand produce an output of v2(t) 500 e200t u(t) mV. Design such a circuit using practical parts values. Validate your design by...

Answered: 1 week ago

Question

★★★★★

Define cognitive distortions and irrational beliefs and give an example of each.

Answered: 1 week ago

Question

★★★★★

Each of the four independent situations below describes a capital lease in which annual lease payments are payable at the beginning of each year. Determine the annual lease payments foreach:...

Answered: 1 week ago

Question

★★★★★

Majestic's investment appraisal committee have worked out the Net Cash flows in the working shown below. Additional details of the project are also given below. Additional Information The cost of the...

Answered: 1 week ago

Question

★★★★★

How would you interpret the following ratios? Consider each case to be independent of each other while answering: - i ) Debt - Equity Ratio 4 : 1 ii ) Current Ratio 3 : 1 iii ) Quick Ratio 0 . 8 0 :...

Answered: 1 week ago

Question

★★★★★

Q21 (EC). 16.10. A test for extrasensory perception (ESP) involves asking a person to tell which of 5 shapes-a circle, star, triangle, diamond, or heart-appears on a hidden com- puter screen. On each...

Answered: 1 week ago

Question

★★★★★

Comprehensive Problem Hersheys Big Bang ERP Halloween is the biggest candy season of them all, with $1.8 billion in sales. For Hersheys, Halloween 1999 was the scariest of all time. Hersheys had...

Answered: 1 week ago

Question

★★★★★

Costco is running a member-only sales program for Carnival cruise vacation. There are totally 600 cabins on the cruise ship. Fixed cost is $15,000 (includes fuel cost for roundtrip, salary for crews...

Answered: 1 week ago

Question

★★★★★

1. Using indicial notation, prove the following (where W is a second-order tensor field and a and b are vector fields). Explain your derivation in detail. ( b)W = (Wb)

Answered: 1 week ago

Question

★★★★★

The income statement reports earned income on _____, and the cashflow statement is based on ______. Question 4Answer a. An accrual-basis, accrual basis accounting b. A cash-basis, accrual-basis...

Answered: 1 week ago

Question

★★★★★

A friend tells you that you talk too much and are always trying to dominate the conversation, especially at parties.

Answered: 1 week ago

Question

★★★★★

How can people in your organization use feedback from each other as the basis for personal growth and development?

Answered: 1 week ago

Question

★★★★★

How carefully are you monitoring discussion about your company on the Internet? What is being said about the company?

Answered: 1 week ago

Previous Question Next Question