Question: Please help fast!!! GNP is developing an Auto Insurance Policy and seeks to determine the optimal combination of Insurance to Sell by type of car.
Please help fast!!!
GNP is developing an Auto Insurance Policy and seeks to determine the optimal combination of Insurance to Sell by type of car. The total value that you can invest is 2,500 million pesos, that is, it is the total risk that you can assume to be able to pay the policies, and seeks to maximize its utilization. According to probability and statistical analysis, the following market information is available:

Define the Model Variables Define the objective function of the Model. Define the Model constraints Determine the amount of Optima Insurance by type of optimal car to sell to maximize profit
% Deductible to Collect for Average Accident Repairable % Repair Cost p/ Accident on the repairable Repairable total value of shares Accident the Car % Accidents Total Lost % Deductible to Charge for Total Loss on the total value of the car. Type of Basic annual Average value car insurance price of the car Compact $ 8,500 $ 95,000 Sedan $ 15,000 $ 198,000 9% $ 15,000 3% 1% 20% 7% $ 27,000 3% 2% 20% SUV $ 17,000 $ 370,000 15% $ 75,000 5% 4% 20% PickUp $ 16,000 $ 420,000 10% $ 20,000 5% 3% 20% Minivan $ $ 785,000 9% $ 15% 1% 30% 45,000 21,000 22,000 21,000 Sport $ $ 650,000 13% $ 5% 3% 20% % Deductible to Collect for Average Accident Repairable % Repair Cost p/ Accident on the repairable Repairable total value of shares Accident the Car % Accidents Total Lost % Deductible to Charge for Total Loss on the total value of the car. Type of Basic annual Average value car insurance price of the car Compact $ 8,500 $ 95,000 Sedan $ 15,000 $ 198,000 9% $ 15,000 3% 1% 20% 7% $ 27,000 3% 2% 20% SUV $ 17,000 $ 370,000 15% $ 75,000 5% 4% 20% PickUp $ 16,000 $ 420,000 10% $ 20,000 5% 3% 20% Minivan $ $ 785,000 9% $ 15% 1% 30% 45,000 21,000 22,000 21,000 Sport $ $ 650,000 13% $ 5% 3% 20%
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