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Author Question: Suppose an insurance company has two types of customers: low-cost customers with an average cost of ... (Read 188 times)

isam

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on: Nov 23, 2022
Suppose an insurance company has two types of customers: low-cost customers with an average cost of $3,750 and high-cost customers with an average cost of $9,000. If the insurance company expects to have a 50-50 mix of customers, what is their expected average cost per customer? When the insurance company charges a premium equal to their expected average cost, however, they find that only 30 percent of their customers are low-cost customers. What is the actual average cost per customer?
Please round your final answer to two decimal places.
◦ $6,375.00, $5,325.00
◦ $12,750.00, $5,325.00
◦ $12,750.00, $7,425.00
◦ $6,375.00, $7,425.00
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by isam on Nov 23, 2022

ryanb

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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isam

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)

gcook

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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