Calculate the Annual Premium for the Following Motor Vehicle Insurance

question 152

Short Answer

Calculate the annual premium for the following motor vehicle insurance policy. $$\begin{array} { l l l l l l l } \text { Territory } & \begin{array} { l } \text { Driver } \\\text { Class }\end{array} & \begin{array} { l } \text { Bodily } \\\text { Injury }\end{array} & \begin{array} { l } \text { Prop. } \\\text { Damage }\end{array} & \begin{array} { l } \text { Model } \\\text { Class }\end{array} & \begin{array} { l } \text { Vehide } \\\text { Age }\end{array} & \begin{array} { l } \text { Comp. } \\\text { Deduct. }\end{array} \\\hline 3 & 1 & 10 / 20 & 5 & \mathrm { R } & 6 & \$ 100\end{array}$$ $$\begin{array} { l l l } \text { Rating } & \text { Coll. } & \text { Annual } \\\text { Factor } & \text { Deduct. } & \text { Premium } \\\hline 1.7 & \$ 500 &\end{array}$$

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Definitions:

Shaping

A method of positive reinforcement in operant conditioning that rewards closer and closer approximations of the desired behavior.

Successive Approximations

A behavioral training process that breaks down a desired behavior into smaller steps, rewarding closer and closer approximations to the desired behavior.

Discrimination Training

A process in behavioral psychology where an individual learns to respond differently to various stimuli based on their differences.

Generalization

is the process of applying the response to one stimulus to other similar stimuli, common in both learning theory and everyday life.