Mathematics, 06.04.2021 23:50, ItsLeyArt

An insurance policy sells for $600. Based on past data, an average of 1 in 50 policyholders will file a $5,000 claim, and average of 1 in 100 policyholders will file a $10,000 claim, and an average of 1 in 200 policyholders will file a $30,000 claim. What is the expected value per policy sold?

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An insurance policy sells for $600. Based on past data, an average of 1 in 50 policyholders will fil...