The company estimates the probability of no damage, Microeconomics

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The company estimates the probability of no damage

The company estimates the probability of no damage to be 0.60, the probability of damage between $0 and $10,000 to be 0.25, and the probability of damage between $10,000 and $25,000 to be 0.12.

If the company wants to make a profit of $200 above the expected cost, what should be the price of the policy?

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Microeconomics: The company estimates the probability of no damage

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Microeconomics: The company estimates the probability of no damage

Reference No:- TGS0100106

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Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: The company estimates the probability of no damage

Reference No:- TGS0100106

Recent Questions Asked Microeconomics

Q : What are mean and standard deviation of number of firms

Q : What is the advertising elasticity for brand

Q : Price of houses is dropping

Q : Does scatter diagram indicate any influential observation

Q : The company estimates the probability of no damage

Q : Defects in the goods and orders

Q : What its contribution margin would be

Q : Create a project management example

Q : Effects result from the marketing system

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