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Mathematics, 25.02.2020 21:16 jamesgutierrez
Student Life Insurance Company wants to offer an insurance plan with a maximum claim amount of $5,000 for dorm students to cover theft of certain items. Past experience suggests that the probability of a maximum claim is .01.
1. What premium should be charged if the company wants to make a profit of $25 per policy?
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Student Life Insurance Company wants to offer an insurance plan with a maximum claim amount of $5,00...
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