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An car insurance company determined the likelihood of a policy having an accident and the average payout for each level
Posted: Wed Jul 06, 2022 12:20 pm
by answerhappygod
- An Car Insurance Company Determined The Likelihood Of A Policy Having An Accident And The Average Payout For Each Level 1 (34.85 KiB) Viewed 11 times
An car insurance
company determined the likelihood of a policy having an accident and the average payout for each level of accident. The results are given in the chart below. Type of Accident No Accident Minor /Fender Bender Probability 0.72 Amount of claim $0 0.21 $5,000 Medium Crash 0.05 $12,000 Major Accident 0.02 $52,000 Find the Expected Value of a single policy and explain what that value means. Edit View Insert Format Tools Table 12pt Paragraph ✔ BIU A eV T²V 2₂ V