If Each of 2,000 Individuals Face a 3% Chance of Requiring

question 10

Multiple Choice

If each of 2,000 individuals face a 3% chance of requiring a surgery that costs $40,000 then an insurance company would expect to pay for ____________ surgeries (on average) per year that would cost __________,and would charge premiums of__________.

• A) 100; $4,000,000; $2,000
• B) 30; $1,200,000; $600
• C) 60; $2,400,000; $1,200
• D) 200;$8,000,000; $4,000

Understand the impact of pricing and market perception on product adoption.

Acknowledge the significance of compatibility, trialability, and relative advantage in adopting new products.

Learn about continuous and discontinuous innovations through examples.

Explore economic and sociological approaches to understanding fashion.

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Definitions:

Peers

Individuals who are about the same age or level of maturity.

Liked

The state or condition of being favored, approved, or found agreeable by others, often used in the context of social media interactions.

Constructive Play

Play that involves manipulating materials to build or create something, often fostering learning and development.

Parallel Play

A developmental stage in early childhood where children play alongside each other without interacting directly.