Multiple Choice
Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be
A) $5,000.
B) $6,000.
C) $7,000.
D) $9,000.
Correct Answer:
Verified
Correct Answer:
Verified
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