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Question 5.30 Describe with the aid of a diagram the intended effect of advertising on a product's demand curve and explain how advertising achieves this effect. [4]A life insurance company sells a last survivor annuity of $500 pa to a man aged 65 and a woman aged 70. The single premium for the policy is $8,500. The benefit is paid annually in advance. (i) Assuming that expenses can be ignored, write down a random variable that represents the present value of the profit made on one of these policies, as at the issue date of the policy, immediately before the premium is paid. [2] (ii) Find the expected value of the random variable you have written down in part (i). [3] [Total 5] Basis: Mortality: PA92C20 Interest 4% pa