Let x be the damage incurred (in $) in a certain type of accident during a given year. possible x values are 0, 1000, 5000, and 1, with probabilities 0.83, 0.10, 0.05, and 0.02, respectively. a particular company offers a $500 deductible policy. if the company wishes its expected profit to be $100, what premium amount should it charge?

$150

Step-by-step explanation:

In this case, we have a random variable with four possible outcomes  

0, 1000, 5000 and 10000

and four possible probabilities of occurrence

0.83, 0.10, 0.05 and 0.02

respectively.

The expectation of this random variable is (* means multiplication),

0.83*0 + 0.10*1000 + 0.05*5000 + 0.02*10000 = 100 + 250 + 200 = 550  

This represents the amount of money the company expects to pay a customer in a given year.

As the deductible is $500, the customer would pay $500 in case of an accident, so the company would only have to pay

$550 - $500 = $50.

So, if the company wishes a profit of $100, the premium amount should be $150.

the camry sales+accord sale=828,000. to make it so the two numbers are 18 thousand apart and still equal 828,000, you first need to find out what half of 828,000 is. 828,000/2=414,000. for the two numbers to equal 828,000, you have to add the same amount as you subtract from the middle. in this case, the number is 9,000 because it's half of 18,000. to equal 828,000, you have to add 9,000 to 414,000 for the camry and subtract 9,000 from 414,000 for the accord. 414,000+9,000=423,000.

414,000-9,000=405,000.

423,000+405,000=828,000.

423,000-405,000=18,

hope it

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