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Suppose that inexperienced drivers are less likely to have an automobile accident than experienced drivers. As a result, insurance companies charge lower insurance premiums for inexperienced drivers. Suppose one insurance company decided to charge inexperienced drivers and experienced drivers the same premium based on the average risk of an accident among both groups. Using your knowledge of the problems associated with asymmetric information, explain whether you think this insurance company will be profitable.
This insurance company is (Click to select)likelyunlikely to be profitable because of the problem of (Click to select) moral hazardadverse selection. The insurance premium based on the average risk of an accident among both inexperienced and experienced drivers will be (Click to select)lowerhigher than the premium for experienced drivers alone and (Click to select)lowerhigher than the premium for inexperienced drivers alone. Therefore, (Click to select)inexperiencedexperienced drivers will not choose to be insured by this company but (Click to select)experiencedinexperienced drivers will. The premium charged based on the average risk of inexperienced and experienced drivers (Click to select)wouldwould not be sufficient to cover the claims of (Click to select)an inexperienced-onlyan experienced-only driver pool and so the company (Click to select)wouldwould not be profitable.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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