This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose an insurance company has two types of customers: low-cost customers with an average cost of ... (Read 1123 times)

isam

  • Full Member
  • ***
  • Posts: 156
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by isam on Nov 23, 2022

ryanb

  • Full Member
  • ***
  • Posts: 164
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.
Answer Preview
Only 50% of students answer this correctly


isam

  • Member
  • Posts: 156
Reply 2 on: Nov 23, 2022
Thanks for the timely response, appreciate it

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Toe types Toe types
Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on
Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge
Common Types of Allergies Common Types of Allergies
Types of white blood cells. Types of white blood cells.
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Genetic distance between human groups

For a complete list of videos, visit our video library