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Assume that the probability of a driver getting into an accident is 4.2%, the average cost of an accident is $13,547.92, and the overhead cost for an insurance company per insured driver is $130. What
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Assume that the probability of a driver getting into an accident is 4.2%, the

average cost of an accident is $13,547.92, and the overhead cost for an
insurance company per insured driver is $130. What should this driver's
insurance premium be?
A. $699.01
B. $56.90
C. $569.01
O D. $186.90

User Narine
by
5.0k points

1 Answer

2 votes

Answer:

A. $699.01

Explanation:

130 = x − (0.042) (13547.92)

x = 699.01

User MassyB
by
4.8k points
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