An Insurance Company Will Insure a $75,000 Hummer for Its

question 114

Multiple Choice

An insurance company will insure a $75,000 Hummer for its full value against theft at a premium of $1500 per year.Suppose that the probability that the Hummer will be stolen is 0.0075.Calculate the insurance company's expected net profit.

• A)$937.50
• B)$551.25
• C)$1488.75
• D)$562.50

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