A company that sells annuities must base the annual payout on the probability distribution of the length

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A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan.

Suppose the probability distribution of the lifetimes of the participants has a normal distribution with a mean of 88 years and a standard deviation of 4 years.

What is the approximate probability a recipient would receive payments beyond age 84?

can u show using Empirical Rule?

Posted Date: May 18, 2024 06:15 PM

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A company that sells annuities must base the annual payout on the probability distribution of the length

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