Question
An insurance company insures a house worth 3,500,000 for an annual premium of 20,000. If the company figures that the probability of the house being
An insurance company insures a house worth ₱3,500,000 for an annual premium of ₱20,000. If the company figures that the probability of the house being burned down by a fire is 0.005, what will be the company's expected profit?
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
