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There is a 0.9991 probability that a randomly selected 32?-year-old male lives through the year. A life insurance company charges ?$140 for insuring that the
There is a 0.9991 probability that a randomly selected 32?-year-old male lives through the year. A life insurance company charges ?$140 for insuring that the male will live through the year. If the male does not survive the? year, the policy pays out ?$80,000 as a death benefit. Complete parts? (a) through? (c) below.b. If the 32?-year-old male purchases the? policy, what is his expected? value?The expected value is ?$nothing.?(Round to the nearest cent as? needed.)
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