What should you do if you know that an event has a high probability of occurring but a low cost when the event actually happens

Question

Kaytlynshue61971 Kaytlynshue61971

19-11-2021
Business

contestada

What should you do if you know that an event has a high probability of occurring but a low cost when the event actually happens

Respuesta :

Otras preguntas

there are two options for purchasing tickets to baseball games single game tickets cost $8 per game season tickets cost 195$ Plus 1.50$ per game let g represent

Where did the majority of European immigrants reside in the late 1800s

What is the meaning of the phrase "thou art wedded to calamity”? You have not had enough disaster in your life. You often have disaster around you. Your marriag

the current trend of devolution is an example of

The number 0.00243 has how many significant digits? a. 3 b. 4 c. 5 d. 6

Compare the ratios: 2/5 and 3/4

The Yadeyeim Association in Israel helps families find caretakers for aging parents and grandparents. It is a nonprofit and non-governmental organization that d

What is the largest mountain range in West Africa?

special interest groups have been formed around all the following sets of issues except a)religious b)political c)economic d)comical

The blades of a windmill turn on an axis that is 30 feet from the ground. The blades are 10 feet long and complete 2 rotations every minute. Write a sine model

Parrain Parrain · Answer 1 · 2021-12-01T11:24:36+01:00

If there is a high chance of something happening but the cost of that thing happening will be low, it would be best to b. Self-Insure.

If something has a high probability but low cost:

It would be best to avoid seeking insurance as they would charge high premiums on account of the probability being high
You should self-insure because the cost will not be too much which means you will only lose a small amount of money as opposed to getting insurance.

Self-insurance will also make more sense because you can save up knowing for a fact that something will happen.

In conclusion, it would be best to self-insure.

Find out more at https://brainly.com/question/13678242.