Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 22, 2024

Review: Probability Review Assignment Jasian Question 19 of 32 (1 point) |Question Attempt: 1 of 3 Espa 14 15 16 17 18 19 20 21

Review: Probability Review Assignment Jasian Question 19 of 32 (1 point) |Question Attempt: 1 of 3 Espa 14 15 16 17 18 19 20 21 22 23 24 25 26 Insurance: An insurance company sells a 1-year term life insurance policy to an 80-year-old man. The man pays a premium of $1600. If he dies within 1 year, the company will pay $21,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 80-year-old man will be alive 1 year later is 0.9251. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is X 1600 X 5 P(x)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Mathematics questions

Question

★★★★★

Discuss how one or more of the trends or changes shown in Exhibit 18-5 are affecting marketing strategy planning for a specific firm that serves the market where you live.

Answered: 1 week ago

Question

★★★★★

When do you think a hiring decision will be made?

Answered: 1 week ago

Question

★★★★★

Search the Web for the Code of Conduct for Sears Holdings Corporation (the parent company for Sears and Kmart). For each of the following cases, indicate whether it is allowable under the Code of...

Answered: 1 week ago

Question

★★★★★

You have the following two offers. Offer A: You either win $10k or lose $10k with 50/50 chance (a coin toss) Offer B: You get nothing for sure. Preference #1: Prefer A Preference #2: Prefer B...

Answered: 1 week ago

Question

★★★★★

Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 60,000 shares of cumulative preferred 3% stock, $20 par and 410,000 shares of $25 par common. During its first...

Answered: 1 week ago

Question

★★★★★

1. The Fagersta Steelworks currently is working two mines to obtain its iron ore. This iron ore is shipped to either of two storage facilities. When needed, it then is shipped on to the companys...

Answered: 1 week ago

Question

★★★★★

Research on the current trends on the Supply Chain Processes (SCP): Information Systems and Information Technology. Based upon your analysis, present at least three examples, about...

Answered: 1 week ago

Question

★★★★★

After reading Case 1 4 . 1 ( Gender and Leadership. page 4 1 0 ) , respond to the followng questions Q 1 : What advancement barriers did Lisa encounter? Q 2 : What should the firm\'s top executives...

Answered: 1 week ago

Question

★★★★★

b) Consider a 36 MW steam power plant operates on a simple ideal Rankine cycle between the pressure limits of 25 bar and 0.5 bar. The dryness fraction of the steam at the turbine exit is 90%. The...

Answered: 1 week ago

Question

★★★★★

A few years ago ValuChain Company sold a $1,000 par value, noncallable bond that now has 15 years to maturity and a 5.00% annual coupon that is paid semiannually. The bond currently sells for $920...

Answered: 1 week ago

Question

★★★★★

(a)Kurt wants to have RM25,000 in an investment account four years from now. The account will pay 0.2 percent interest per month. If he saves money every month, starting one month from now, how much...

Answered: 1 week ago

Previous Question Next Question