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suter [353]
2 years ago
11

A private pilot wishes to insure his airplane for$200,000. The insurance company estimates that a total loss will occur with pro

bability 0.002, a 50% losswith probability 0.01, and a 25% loss with probability 0.1. Ignoring all other partial losses, what premium should the insurance company charge each year to realize an average profit of $500?
Business
1 answer:
Finger [1]2 years ago
4 0

Answer:

The answer is: $6,900

Explanation:

To determine how much the insurance company should charge, we must first calculate the amount of money they expect to pay:

  • total loss $200,000 x 0.002 = $400
  • 50% loss $100,000 x 0.01     = $1,000
  • 25% loss $50,000 x 0.1         = $5,000

                                                 Total  $6,400

If the insurance company expects to pay $6,400 per year, they will have to charge $6,900 ($6,400 + $500) to cover their expenses and earn a $500 profit.

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A new surgical facility called Cut & Sew is opening in neighborhoods throughout the United States. They are job shops that h
Anna71 [15]

Answer:

Sequence: D| A| B| E| C|

Makespan = 14.1 hours.

Explanation:

Solution: We are asked to use Johnson's Method to sequence the patients and to determine the minimum makespan.

In Johnson's Method of sequencing, there are some conditions which must be met in order to solve this questions which are as follows:

1. Constant time for jobs, no variation.

2. No job priorities.

3. Jobs will go through from machine 1 to machine 2.

Keeping all those conditions in mind, let's start sequencing by Johnson's method.

Sequence:

                                    D| A| B| E| C|

Hence, this is the sequence to reduce the total time efficiently to perform all the jobs.

Rules to do sequencing:

First of check the number of jobs, here in our case, we have 5 jobs. So create a line of 5 boxes.

Secondly, you have check the data, check for the job and the machine which gives minimum time. If machine 1 (which is  Patient cut) gives minimum job time, then write it on the left most box and proceed towards right if other minimum times are also from machine 1. Otherwise, if machine 2 gives minimum job time for a particular job then write in the right most box and so on. Here you can see, Job C and Machine 2 gives the minimum job time, that is why I have put it on the right most box. Now, after including C, you cannot repeat job C. Moreover, you can see, Job D machine 1 gives minimum time, that is why wrote it in the left most box.

Hope, you have understood the method.

Let's Calculate the Makespan for this.    

Makespan: It is basically the total elapsed time from the start of job 1 to the end of job 5.

I have attached a table showing the starting and ending of each job and hence calculating the makespan. Please refer to the attachment.

Makespan = 14.1 hours.

8 0
1 year ago
Unipeg Corporation has uniform high sales targets for its employees all across the globe, regardless of the environmental constr
Aleks04 [339]

Answer: 4). Unrealistic performance goals.

Explanation: Ethics are moral principles that guide how an individual acts. Ethics involves integrity and values.

In the context above, employees were given unrealistic sales targets regardless of the economic constraint of the nation. This hampered the ethical nature of some of the Staff as for fear of being penalized they became unethical.

4 0
2 years ago
On Mr. Casper’s debate team at Thunderbird High School, 20% of the members are Sophomores, 35% are Juniors and 45% are Seniors.
balandron [24]

Answer:

here is a 63.25% for winning the debate given the student distribution and the chance of success  of each type of student.

Explanation:

As the student will be picked at random we can determiante the expected value by doing a weighted average:

\left[\begin{array}{cccc}$Student&$Return&$Probability&$Weight\\$Sophomore&0.2&0.2&0.04\\$Junior&0.6&0.35&0.21\\$Senior&0.85&0.45&0.3825\\Total&&1&0.6325\\\end{array}\right]

4 0
1 year ago
The United States has accused China of Multiple Choice contributing to the skyrocketing price of aluminum. reducing barriers in
marta [7]

Answer:

exacerbating the global glut of steel by investing in additional production.

Explanation:

The United States Government under President Trump accused China of promoting overcapacity in production of steel and aluminium (that is industrial overcapacity).

This over-production of steel has distorted the global market by facilitating excess exports.

However China has been taking steps to reduce excess steel production although such efforts have been inadequate.

Even less has been done about the overproduction in the aluminium industry

6 0
2 years ago
Warner Company's year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600
dsp73

Explanation:

The journal entry to record the uncollectible is shown below:

On December 31

Bad debt expense $800

        To Allowance for doubtful debts $800

(Being the bad debt expense is recorded)

The computation is shown below:

= Sales × estimated percentage - credit balance of doubtful accounts

= $280,000 × 0.5% - $600

= $1,400 - $600

= $800

5 0
1 year ago
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