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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

x 1700
Px

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