Policy A Policy B A company is considering two insurance plans with coverage and premiums shown in the table. (For example, this Fire/Theft $10,000 $15,000 means that $50 buys one unit of plan A,...


Policy A<br>Policy B<br>A company is considering two insurance plans with coverage and premiums shown in the table. (For example, this<br>Fire/Theft<br>$10,000<br>$15,000<br>means that $50 buys one unit of plan A, consisting of $10,000 fire and theft insurance and $180,000 of liability<br>Liability<br>$180,000<br>$120,000<br>insurance.) Answer parts (a) and (b).<br>Premium<br>$50<br>$40<br>(a) The company needs at least $300,000 fire and theft insurance and at least $4,800,000 liability from these plans. How many units should be purchased from each plan to minimize the cost of<br>the premiums? What is the minimum premium?<br>units of Policy A and<br>units of Policy B, for a premium of $<br>The company should purchase<br>

Extracted text: Policy A Policy B A company is considering two insurance plans with coverage and premiums shown in the table. (For example, this Fire/Theft $10,000 $15,000 means that $50 buys one unit of plan A, consisting of $10,000 fire and theft insurance and $180,000 of liability Liability $180,000 $120,000 insurance.) Answer parts (a) and (b). Premium $50 $40 (a) The company needs at least $300,000 fire and theft insurance and at least $4,800,000 liability from these plans. How many units should be purchased from each plan to minimize the cost of the premiums? What is the minimum premium? units of Policy A and units of Policy B, for a premium of $ The company should purchase

Jun 04, 2022
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