Mathematics, 15.11.2019 10:31, zamawi17

Suppose a company charges an annual premium of $450 for a fire insurance policy. in case of a fire claim, the company will pay out an average of $100,000. based on actuarial studies, it determines that the probability of a fire claim in a year is 0.004. what is the expected annual profit of a fire insurance policy for the company?

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Suppose a company charges an annual premium of $450 for a fire insurance policy. in case of a fire c...