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Your insurance company has a policy to insure personal property Assume you have a laptop...

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Basic Math

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Your insurance company has a policy to insure personal property Assume you have a laptop computer worth 1 600 and there is a 1 chance that the laptop will be lost or stolen during the next year What would be a fair premium for the insurance We are assuming that the insurance company earns no profit A fair premium for the insurance would be

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