Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please show me the work too. The potential market represents all active duty military members, all veterans, and their families. Assume that according to the
Please show me the work too.
The potential market represents all active duty military members, all veterans, and their families. Assume that according to the United States Department of Defense, as of December 31, 2014 there were 1,360,858 active duty personnel in all armed services. The veteran population totaled 21 milion at the end of 2014. Assuming the average cost of life insurance is $710 per year and that potential customers purchase one policy per year, use the chain ratio method to calculate the market potential for life insurance in the military market. The number of buyers in the market can be estimated as (Round to the nearest whole number.)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