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Research indicates that the 5 million cars in your city experience unrecoverable losses of $550 million per year from theft, collisions, and so on. What
Research indicates that the 5 million cars in your city experience unrecoverable losses of $550 million per year from theft, collisions, and so on. What is the expected annual loss in dollars per individual car?
Referring to the information in the prior question:
If 30% of the premiums are used to cover expenses, what premium must be charged to each individual car owner?
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