An insurance policy to cover damages on a uhaul truck for duration of rental is $900. Based on historical data 1 in 200 renters cause damage to a truck. The average cost of repair for a damaged truck is $1100. If 1000 renters buy the insurance, what is the expected profit or loss with the renters insurance?
An insurance policy to cover damages on a uhaul truck for duration of rental is $900. Based on historical data 1 in 200 renters cause damage to a truck. The average cost of repair for a damaged truck is $1100. If 1000 renters buy the insurance, what is the expected profit or loss with the renters insurance?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 3BGP
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An insurance policy to cover damages on a uhaul truck for duration of rental is $900. Based on historical data 1 in 200 renters cause damage to a truck. The average cost of repair for a damaged truck is $1100. If 1000 renters buy the insurance, what is the expected profit or loss with the renters insurance?
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