Ominous Studios,in an effort to promote the release of their new movie "Dragons from Space," began a national sales promotion campaign.Two coupons from specially marked boxes (one coupon in each box)of "Sweet Pops" cereal are redeemable for one ticket to the show.Tickets cost Ominous $1.50 each.Ominous estimates that 40 percent of the coupons will be redeemed.At the end of 2014,the following information is available:

What is the estimated liability for premium claims outstanding at December 31,2014?

Question

Ominous Studios,in an effort to promote the release of their new movie "Dragons from Space," began a national sales promotion campaign.Two coupons from specially marked boxes (one coupon in each box)of "Sweet Pops" cereal are redeemable for one ticket to the show.Tickets cost Ominous $1.50 each.Ominous estimates that 40 percent of the coupons will be redeemed.At the end of 2014,the following information is available:
  
What is the estimated liability for premium claims outstanding at December 31,2014?

Quizplus · Accepted Answer

The Answer of Ominous Studios,in an effort to promote the release of their new movie "Dragons from Space," began a national sales promotion campaign.Two coupons from specially marked boxes (one coupon in each box)of "Sweet Pops" cereal are redeemable for one ticket to the show.Tickets cost Ominous $1.50 each.Ominous estimates that 40 percent of the coupons will be redeemed.At the end of 2014,the following information is available:
  
What is the estimated liability for premium claims outstanding at December 31,2014?

Ominous Studios,in an Effort to Promote the Release of Their