Jim Has a 5-Year-Old Car in Reasonably Good Condition Jim Is Applying to a Car Insurance Company for His

question 16

Multiple Choice

Jim has a 5-year-old car in reasonably good condition. He wants to take out a $30,000 term (that is, accident benefit) car insurance policy until the car is 10 years old. Assume that the probability of a car having an accident in the year in which it is x years old is as follows: $$\begin{array} { l c c c c c } x = \text { age } & 5 & 6 & 7 & 8 & 9 \\P \text { (accident) } & 0.01191 & 0.01292 & 0.01396 & 0.01503 & 0.01613\end{array}$$ Jim is applying to a car insurance company for his car insurance policy. If the car insurance company charges $6000 for the policy and the expected total loss is $2099, how much profit does the company expect to make? Round your answer to the nearest dollar.

• A)$3902
• B)$3905
• C)$3900
• D)$3897
• E)$3903

Grasp the significance of exercise and physical activity in enhancing health and longevity.

Understand harm reduction strategies and their application in health behavior changes.

Comprehend the application and effectiveness of multimodal treatments in addressing substance abuse and health problems.

Recognize the role of self-efficacy and motivation in the context of behavior change and health interventions.

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Definitions:

Material Handling

The movement, protection, storage, and control of materials and products throughout manufacturing, warehousing, distribution, consumption, and disposal.

Activity Cost Pool

A “bucket” in which costs are accumulated that relate to a single activity measure in an activity-based costing system.

Measure Of Activity

A metric used to gauge the level of a specific operation or process over a given time period.

Activity Rate

A rate used to allocate indirect costs to products or services, based on a specific activity or driver.