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 expected net profit for the insurance company.
A) $937.50
B) $551.25
C) $1488.75
D) $562.50
Correct Answer:
Verified
Correct Answer:
Verified
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