Insuring Your Diamonds You can insurea $50,000 diamond for
Chapter 4, Problem 95(choose chapter or problem)
Insuring Your Diamonds You can insurea $50,000 diamond for its total value by paying apremium of D dollars. If the probability of loss in agiven year is estimated to be .01, what premiumshould the insurance company charge if it wants theexpected gain to equal $1000?
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