Calculate Cost and Refund (Use Table in Text If Needed)

question 23

Short Answer

Calculate cost and refund (use table in text if needed):
$$\begin{array} { | l | l | l | l | l | } \hline \text { Annual Premium } & \text { Canceled After } & \text { Canceled By } & \text { Premium Cost } & \text { Refund } \\\hline \$ 400 & 6 \text { Months } & \text { Insured } & \text { A } & \text { B } \\\hline \$ 800 & 9 \text { Months } & \text { Insurer } & \text { C } & \text { D } \\\hline\end{array}$$

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Definitions:

Functional Expertise

Refers to the specific knowledge and skills that enable an individual to excel in a particular job or industry.

Economies of Scale

Cost advantages that a business obtains due to expansion, where the average cost per unit of output decreases with the increase in scale of production.

Functional Organizations

A type of organizational structure that groups employees based on their specialized roles or functions.

Functional Expertise

The specialized knowledge or skills in a specific field or function, contributing to organizational success.