Question
If the average probability of an accident of those insured with Patakazo is 7%, and the average value of the cars insured by the same
If the average probability of an accident of those insured with Patakazo is 7%, and the average value of the cars insured by the same company is $23,000, what is the average premium paid by New Yorkers insured with Patakazo if we assume the insurance company makes zero economic profits.
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
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