TO. Based on data, an insurance company estimates that a particular customer has a 0.38% likelihood of filing a claim in

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TO. Based on data, an insurance company estimates that a particular customer has a 0.38% likelihood of filing a claim in

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To Based On Data An Insurance Company Estimates That A Particular Customer Has A 0 38 Likelihood Of Filing A Claim In 1
To Based On Data An Insurance Company Estimates That A Particular Customer Has A 0 38 Likelihood Of Filing A Claim In 1 (17.56 KiB) Viewed 44 times
TO. Based on data, an insurance company estimates that a particular customer has a 0.38% likelihood of filing a claim in the next year. The average insurance payout is $1890 per such case. The company changes this customer an annual insurance premium of $24 a) What is the company's expected mean value of one such insurance policy? Round your answer to the closest cent b) If the company sells 15,000 such policies, what revenue can the insurance company expect from the sale of these insurance policies after they pay out any claims?
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