Business, 06.10.2019 04:30 ptrlvn01

Let x be the damage incurred (in dollars) in a certain type of accident during a given year. possible x values are 0, 1000, 5000, and 1, with probabilities 0.8, 0.1, 0.08, and 0.02 respectively. a particular company offers a $500 deductible policy. that is, if the customer pays $500 to remedy the accident, the insurance company will cover the remaining cost. if the company wishes its expected profit to be $100, how much should the company charge for an annual policy ?

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Let x be the damage incurred (in dollars) in a certain type of accident during a given year. possibl...

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