A company is considering two insurance plans with coverage

Last updated: 3/8/2023

A company is considering two insurance plans with coverage and premiums shown in the table For example this means that 50 buys Fire Theft Liability one unit of plan A consisting of 10 000 fire and theft insurance and 180 000 of liability insurance Answer parts a and b Premium Policy A 10 000 180 000 50 units of Policy A and a The company needs at least 300 000 fire and theft insurance and at least 3 600 000 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 The company should purchase Policy B 15 000 120 000 40 units of Policy B for a premium of