soriacecilia93 soriacecilia93

23-05-2024
Mathematics

Answered

An insurance policy sells for $550. Based on past data, an average of 1 in 25 policyholders will
file a $1000 claim, an average of 1 in 50 policyholders will file a $3000 claim, an average of 1 in 75 policyholders will file an $8,000 claim, and an average of 1 in 120 policyholders will file a
$15,000 claim. What is the yearly profit for the company if they sell 300 policies in a year?

Answer :

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