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Suppose that a life insurance company insures 700,000 fifty-year-old people in a given year. (Assume a death rate of 5 per 1000 people.) The cost

Suppose that a life insurance company insures 700,000 fifty-year-old people in a given year. (Assume a death rate of 5 per 1000 people.) The cost of the premium is $300 per year, and the death benefit is $50,000. What is the expected profit or loss for the insurance company?

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