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answer with explanation 5. A one-year endowment insurance issued to (a) pays b at the end of the year if (a) fails in (x, x

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5. A one-year endowment insurance issued to (a) pays b at the end of the year if (a) fails in (x, x + 1] and pays e at the end of the year if (x) survives to a + 1. Let Z' - denote the present value of benefit for this insurance. Show that Var(Z. ) = (b -e) p. . qx

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