Question: Let X be the damage incurred (in $) in a certain type of accident during a given year. Possible X values are 0, 1,000, 5,000,

Let X be the damage incurred (in $) in a certain type of accident during a given year. Possible X values are 0, 1,000, 5,000, and 10,000, with probabilities 0.83, 0.09, 0.06, and 0.02, respectively. A particular company offers a $500 deductible policy. If the company wishes its expected profit to be $100, what premium amount should it charge (in dollars)? $ 500 X Need Help? Read It Watch It Master It

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