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Suppose a life insurance company sells a $ 250,000 one-year term life insurance policy to a 19 -year-old female for $ 170 . The probability

Suppose a life insurance company sells a $250,000one-year term life insurance policy to a 19-year-old female for $170. The probability that the female survives the year is 0.999457. Compute and interpret the expected value of this policy to the insurance company.

a) The expected value is___

b) Which of the following interpretation of the expected value is correct?

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