Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 17, 2024

suppose a life insurance company sells a $2000,000 1 year term life insurance policy to a 20-year-old female for 190. according to the national vital

suppose a life insurance company sells a $2000,000 1 year term life insurance policy to a 20-year-old female for 190. according to the national vital statistics report, 58(21), the probability that the female survives the year is 0.999544. compute and interpret the expected value of this policy to the insurance company.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Statistical Inference

Statistical Inference

Authors: George Casella, Roger L. Berger

2nd edition

0534243126, 978-0534243128

More Books

Students also viewed these Mathematics questions

Question

★★★★★

A life insurance company sells a $250,000 1-year term life insurance policy to a 20-year-old female for $200. According to the National Vital Statistics Report, 58(21), the probability that the...

Answered: 1 week ago

Question

★★★★★

A life insurance company sells a $100,000 one-year term life insurance policy to a 35-year-old male for $200. According to the National Vital Statistics Report, 56(9), the probability the male...

Answered: 1 week ago

Question

★★★★★

A life insurance company sells a $250,000 1-year term life insurance policy to a 20-year-old male for $350. According to the National Vital Statistics Report, 58(21), the probability that the male...

Answered: 1 week ago

Question

★★★★★

Use a calculator to approximate the value. Round your answer to two decimal places. arccos(0.051)

Answered: 1 week ago

Question

★★★★★

Doering Company, a U. S. corporation with customers in several foreign countries, had the following selected transactions for 2013 and 2014. 2013 Apr. 8 Sold merchandise to Salinas & Sons of Mexico...

Answered: 1 week ago

Question

★★★★★

Select a product and identify the media used in its promotion. On the whole, do you think the campaign is effective? Why or why not? If the campaign is not effective, what changes would you suggest...

Answered: 1 week ago

Question

★★★★★

What aspects of [clients self-reported cultural background] are most important to you?

Answered: 1 week ago

Question

★★★★★

The T-accounts below summarize the ledger of Salvador's Gardening Company, Inc. at the end of the first month of operations. Instructions (a) Prepare the journal entries (including explanations) that...

Answered: 1 week ago

Question

★★★★★

What is the Excel Formula for this problem? The past five monthly returns for Kohl's are 3.72 percent, 4.07 percent, -1.86 percent, 9.34 percent, and -2.74 percent. Compute the standard deviation of...

Answered: 1 week ago

Question

★★★★★

1. create a concept map for 0D, 1D, 2D and 3D crystals 2. write down the formulas for quantifying numbers of defects

Answered: 1 week ago

Question

★★★★★

According to the video (San Antonio Fire's Use of WebGIS) and prior to the Final Four/2018, what was the city's approach to incident management? Group of answer choices manning of foot post paper...

Answered: 1 week ago

Question

★★★★★

Harold Lau will deposit enough money today so that his account will contain $20,000 in 10 years. The account will pay interest at 8% compounded semiannually. Compute the interest (in dollars) that...

Answered: 1 week ago

Question

★★★★★

Module 2: Exemplary Level (2 marks) 8) A swimmer wants to end up at a dock due north of her starting point on the south side. In still water her maximum speed is 1.25 m/s. The river has a current...

Answered: 1 week ago

Question

★★★★★

Excel File Edit View Insert Format Tools Data Window Help 11 8 ) 75% Tue 10:23 AM QE AutoSave OFF A F ? C ... SMS310 Test 2 - Student File Final Home Insert Draw Page Layout Formulas Data Review View...

Answered: 1 week ago

Question

★★★★★

A developer filed a breach of contract action against a general contractor in federal district court. If the contract was breached, the general contractor believes the fault was that of the framing...

Answered: 1 week ago

Question

★★★★★

What would be the approximate current flow in a 120 volt circuit with a 400 watt toaster and an 800 watt microwave oven attached

Answered: 1 week ago

Question

★★★★★

25 ES-13 (FIFO and LIFO-Periodic and Perpetual Inventory information for Part 311 ot Semunole Corp discloses the following information for the month of June. 300 units $10 June 10 Sold 200 units $24...

Answered: 1 week ago

Question

★★★★★

Juarez worked for Westarz Homes at construction sites for five years. Bever was a superintendent at construction sites, supervising subcontractors and moving trash from sites to landfills. He...

Answered: 1 week ago

Question

★★★★★

=+c. Which of these chartsa pie chart or a bar chart best summarizes the important information? Explain.

Answered: 1 week ago

Question

★★★★★

56. Suppose that on each play of the game a gambler either wins 1 with probability p or loses 1 with probability 1 p. The gambler continues betting until she or he is either winning n or losing m....

Answered: 1 week ago

Question

★★★★★

58. In the gamblers ruin problem of Section 4.5.1, suppose the gamblers fortune is presently i, and suppose that we know that the gamblers fortune will eventually reach N (before it goes to 0). Given...

Answered: 1 week ago

Previous Question Next Question