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The probability distribution for collision insurance claims paid by the T. J. Automobile Insurance C

Question: The probability distribution for collision insurance claims paid by the T. J. Automobile Insurance Company is as follows:

Claim	Probability
$0	0.90
$500	0.04
$1000	0.03
$2000	0.01
$3000	0.01
$4000	0.01

Use the expected collision claim amount to determine the collision insurance premium that would allow the company to break even on the collision portion of the policy.

Price: $2.99

Solution: The solution consists of 2 pages
Deliverables: Word Document

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The probability distribution for collision insurance claims paid by the T. J. Automobile Insurance C

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