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Business, 18.03.2021 01:40 dbanks701

7. An insurance policy sells for $600. Based on past data, an average of 1 in 50 policyholders will file a $5,000 claim, an 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 for one policy and what will the company profit if they sell 10,000 policies

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