Insurance an insurance policy costs 100 and will pay, Ask an Expert

Engineering

Insurance. An insurance policy costs $100 and will pay policyholders $10,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work). The company estimates that each year 1 in every 2000 policyholders may have a major injury, and 1 in 500 a minor injury only.

a) Create a probability model for the profit on a policy.

b) What's the company's expected profit on this policy?

c) What's the standard deviation?

View complete question

Computer Engineering, Engineering

Category:- Computer Engineering
Reference No.:- M92192208

Have any Question?Write your Review or question?

Related Questions in Computer Engineering

Question suppose the array begins with 0 followed by the

Question : Suppose the array begins with 0, followed by the remaining even integers in descending order, followed by the odd numbers in descending order. (For n = 8, the array would be [0,8,6,4,2,7,5,3,1].) How many comp ...

Question need to discuss on issues and security

Question: Need to discuss on issues and security vulnerabilities caused by using 4 digit pin while accessing Banking. 1) Abstract 2) Acknowledgement 3) List of Abbreviations 4) Table of contents 5) List of tables 6) List ...

Question suppose that you are searching an unsorted array

Question : Suppose that you are searching an unsorted array of objects that might contain duplicates. Devise an algorithm that returns a list of the indices of all objects in the array that match a given object. If the d ...

Given the ultra-high abundance of their elements in air it

Given the ultra-high abundance of their elements in air, it is not surprising that these six compounds are common pollutants: NO, NO2, N2O, N2O3, N2O4, N2O5. Calculate the largest ratio of effusion rates that exists betw ...

You are required to carry out an analysis of the it

You are required to carry out an analysis of the IT requirements of a software company and design a virtualisation solution to satisfy these requirements. You will need to produce a report outlining your design and provi ...

Question suppose a prolog database exists that gives

Question : Suppose a Prolog database exists that gives information about the parts in an automobile engine. Predicates of big, small, and part-of are included. a. Write a query to find all small items that are part of ot ...

Need references for information for the following dealing

Need references for information for the following dealing with CSMS (Consolidated Sales and Marketing System Project) Produce a narrative which describes the added error-handling pathways that includes: an overview of th ...

Explain that this threat represents a well-known and broad

Explain that this threat represents a well-known and broad category of electronic and human activities that breach the confidentiality of information.

A compare the properties of cpu registers with the main

(a) Compare the properties of CPU registers with the main memory in MIPS. (b) Describe the purpose of the stack pointer ($sp) for procedure calling. (c) What is a "basic block" and how is it used by a compiler? (d) Ther ...

Question write a minimum of 100 words for each question

Question: Write a minimum of 100 words for each question. Provide Citation and reference for each question. Provide two responses for each question. 1. Let us suppose we are designing a computer for use for a graphic art ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Computer Engineering Expert