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A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan.

A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 78 years and a standard deviation of 3.5 years.

What proportion of the plan recipients would receive payments beyond age 90?

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