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nsurance: An insurance company sells a 1-year term life insurance policy to an 76-year-old man. The man pays a premium of $1700 . If he
nsurance:An insurance company sells a
1-year term life insurance policy to an
76-year-old man. The man pays a premium of
$1700
. If he dies within 1year, the company will pay $36,000
to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an
76year-old man will be alive
1 year later is
0.9537
. Let
X
be the profit made by the insurance company.
Part 1 of 2
(a) Find the probability distribution. The probability distribution is
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