Business, 29.06.2021 22:40 suzymott1562

An insurance policy sells for $1000. Based on past data, an average of 1 in 50 policyholders will file a $10,000 claim, an average of 1 in 100 policyholders will file a $25,000 claim, an average of 1 in 250 policyholders will file a $60,000 claim. Find the expected value (to the company) per policy sold. Hint: make sure you use all of the numbers in this problem.

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An insurance policy sells for $1000. Based on past data, an average of 1 in 50 policyholders will fi...

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