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(Created page with "An insurer sells coverage on two types of risks, type A and type B, with the following loss probabilities: {| class="table table-bordered" |- !Type !! P(L = 0) !! P(L = 100)...") |
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Assuming both types of risk are equally likely to be selected, determine the probability that the loss will equal to $100 for a randomly selected risk. | Assuming both types of risk are equally likely to be selected, determine the probability that the loss will equal to $100 for a randomly selected risk. | ||
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<li>0.4</li> | <li>0.4</li> | ||
<li>0.45</li> | <li>0.45</li> | ||
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<li>0.55</li> | <li>0.55</li> | ||
<li>0.6</li> | <li>0.6</li> | ||
</ | </ul> | ||
Latest revision as of 22:26, 16 March 2024
An insurer sells coverage on two types of risks, type A and type B, with the following loss probabilities:
| Type | P(L = 0) | P(L = 100) |
|---|---|---|
| A | 0.3 | 0.7 |
| B | 0.6 | 0.4 |
Assuming both types of risk are equally likely to be selected, determine the probability that the loss will equal to $100 for a randomly selected risk.
- 0.4
- 0.45
- 0.5
- 0.55
- 0.6