Lee Colle insures its students for thefts up to $1000. The college makes no profit but sets the premium to cover administrative costs of 10% on average claim of $120. If the annual premium per students is 24$. What is the expected number of thefts per 100 students per year? Choose the correct option
A) 12	B) 14	C) 16	D) 18	E) 20
assume x is number of theft per year   24*100=120*1.1*x -&gt; x = ~18   ANSWER:18
<result>D</result>
Lee Colle insures its students for thefts up to $1000. The college makes no profit but sets the premium to cover administrative costs of 10% on average claim of $120. If the annual premium per students is 24$. What is the expected number of thefts per 100 students per year?