GESCO Insurance Company charges a $350 premium per annum for a $100,000 life insurance policy for a
Question:
a. Let x be a random variable that denotes the gain of the company for next year from a $100,000 life insurance policy sold to a 40-year-old female. Write the probability distribution of x.
b. Find the mean and standard deviation of the probability distribution of part a. Give a brief interpretation of the value of the mean. Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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a If the policyholder dies next year the companys net loss of 100000 is ...View the full answer
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