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life insurance companies make use of the laws of probability in order to a estimate future death rates among members of a given group b predict when an individual insured will die c develop 40792
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1) An insurance company sells a one-year automobile policy with a deductible of 2. The probability that the insured will incur a loss is 0.05. If there is a loss, the probability of a loss of amount N is (K)/(N) for N = 1, ..., 8 and K a constant. These are the only possible loss amounts and no more than one loss can occur. Determine the net premium for this policy.
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You must c C reate an account to continue watching
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