Final answer:
A driver in Mississippi must provide proof of insurance after an accident, but the time frame is not stated in the question. An example of insurance economics shows how premiums from 100 drivers at $1,860 each can cover $186,000 in damages from various accidents throughout the year.
Step-by-step explanation:
The question pertains to the requirement in Mississippi (MS) for a driver to provide proof of insurance after being involved in an accident. While the specific number of days within which a driver must provide this proof is not stated in the question, the information provided relates to how insurance premiums work to cover the costs of accidents.
To illustrate, consider an example where 100 drivers each pay a $1,860 premium annually. This premium contributes to a collective fund from which money is drawn to cover the expenses of car accidents. If 60 drivers experience minor damages costing $100 each, 30 drivers have medium-sized accidents costing $1,000 each, and 10 drivers have larger accidents with damages of $15,000 each, the total payout by the insurance company would be $186,000 - exactly the amount collected from the premiums paid by the 100 drivers.
This system functions without prior knowledge of which drivers are at lower or higher risk of having an accident within a particular year.