?An insurance company needs to determine the annual premium required to break even on fire protection policies with a face value of $80,000. Ifxis the claim size on these policies and the analysis is restricted to the losses $20,000, $70,000, and $80,000, then the probability distribution ofxis as shown in the table. What premium should customers be charged for the company to break even? Round your answer to the nearest dollar.?
?
?x?0 20,000 70,000 80,000 P(x) 0.9950 0.0031 0.0011 0.0008?
A. ?$202
B. ?$14
C. ?$42,500
D. ?$203
E. ?$40,600
Answer: D
Mathematics
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