Question
The cost of auto insurance in California is dependent on many variables, such as the city you live in, the number of cars you insure,
The cost of auto insurance in California is dependent on many variables, such as the city you live in, the number of cars you insure, and your insurance company. A website reports the annual 2017 standard premium for a male, licensed for 6-8 years, who drives a certain midsize car 12,600 to 15,000 miles per year and has no violations or accidents.
| City | Allstate | 21st Century |
|---|---|---|
| Long Beach | $3,445 | $3,151 |
| Pomona | 3,568 | 3,103 |
| San Bernardino | 3,394 | 3,111 |
| Moreno Valley | 3,490 | 3,303 |
What is the average premium (in dollars) for Allstate Insurance?
$
What is the average premium (in dollars) for 21st Century Insurance?
$
If you were buying insurance, would you care about the average premium cost? If not, what would you want to know?
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
15th edition
1259404781, 007802563X, 978-1259404788, 9780078025631, 978-0077522940
