Use the mortality table below to answer parts a-f. a. The life expectancy column gives the number
Question:
a. The life expectancy column gives the number of years a person of that age is expected to live. What is the life expectancy for a 67-year-old female, rounded to the nearest year?
b. To what age is a 56-year-old male expected to live, rounded to the nearest year?
c. If the company insures 20,000 69-year-old females, how many are expected to die before their 70th birthday? Round to the nearest integer.
d. If the company insures 14,000 59-year-old males, how many are expected to die before their 60th birthday? Round to the nearest integer.
e. If the company insures x number of 61-year-old females, how many are expected to die before their 62nd birthday? Express your answer algebraically.
f. Based on the table, what is the probability that a 60-year-old male will live to his 61st birthday?
Step by Step Answer:
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver