For 7-9

Given I_H= $1,600, E(I)= $1,328, and p = 20%,

7. What is the value of I_S?

Group of answer choices

$3,200

$320

$24

$240

$400

Flag question: Question 8Question 82 pts

In addition, assume q = $300

we can say that this insurance is

Group of answer choices

fair

unfair

partial

full

not enough information for us to compute

Flag question: Question 9Question 92 pts

Now assume I_H' = $1,300 in addition.

We can now say that this insurance is

Group of answer choices

partial and fair

partial and unfair

none of the choices

full and unfair

full and fair