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For a life insurance company, it is important to construct life tables (consisting of the probability that a person will survive in the next year,

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For a life insurance company, it is important to construct life tables (consisting of the probability that a person will survive in the next year, conditional on a person that has been survived up to current). A life insurance company uses life tables to assist calculation of life insurance premium. Assume that the lifetime of randomly selected person is approximately normally distributed with a mean 68 years and a standard deviation 4 year. A whole life insurance implies that insurance company needs to pay out the death benefit if the insured die, no matter when the death event is happened. For a group of 10 independent newborn insureds who are currently all under whole life insurances, what is the probability that a randomly selected person will die between 60 and 70 years? 0.6687 0.3313 0.5763 0.0920 0.9080

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