Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tutorial Exercise The probability that an 80 year old male in the U S will die within one year is approximately 0 069941 If an

image text in transcribed
image text in transcribed

Tutorial Exercise The probability that an 80 year old male in the U S will die within one year is approximately 0 069941 If an insurance company sells a one year 13 000 life insurance policy to such a person for 432 what is the company s expectation Part 1 of 3 Let S be the event that the person dies within one year Then P S 0 069941 Submit Skip you cannot come back In this case the Fompany has to pay out 13 000 Since the company charged 432 for this policy the company s actual loss is X

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

A First Course In Finite Elements

Authors: Jacob Fish, Ted Belytschko

1st Edition

0470510846, 9780470510841

More Books

Students also viewed these Mathematics questions

Question

missiuri river supply co. sells canoes, kayaks

Answered: 1 week ago

Question

Describe Conners moral beliefs and values. mk5

Answered: 1 week ago

Question

Core values are enduring beliefs about appropriate conduct. Yes No

Answered: 1 week ago