Question: QUESTION 8There is 0.99954 probability that a randomly selected 30-year-old male lives through the year. A Fidelity life insurance companycharges $160 for insuring that the

QUESTION 8There is 0.99954 probability that a randomly selected 30-year-old male

lives through the year. A Fidelity life insurance companycharges $160 for insuring

QUESTION 8There is 0.99954 probability that a randomly selected 30-year-old male lives through the year. A Fidelity life insurance companycharges $160 for insuring that the male will live through the year. If the male does not survive the year, the policy pays our $150,000 asa death benefit. If a 30-year-old male purchases the policy, what is his expected value?- $155$92O-$25O - $91

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

1)Assume that different groups of couples use a particular method of gender selection and each couple gives birth to one baby. This method is designed to increase the likelihood that each baby will...

1) Five males with an X-linked genetic disorder have one child each. The random variable x is the number of children among the five who inherit the X-linked genetic disorder.Determine whether a...

the answer to the questions below There is a 0.9988 probability that a randomly selected 30-year-old male lives through the year. A life insurance company charges $196 for insuring that the male will...

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...

Assignments Introduction to Statistics Stat 201 Tuesday 6-9:20 Spring 2020 Emmanuel Seekie Homework: 5-1 Homework Save Score: 0 of 1 pt 19 of 25 (17 complete) HW Score: 65.33%, 16.33 of 25 pts 5.1.29...

There is a 0.9985 probability that a randomly selected 32?-year-old male lives through the year. A life insurance company charges ?$190 for insuring that the male will live through the year. If the...

Could you please help me with these probability questions? Thank you so much! Date Period Ch 8 Review - Probability Distributions Name Answer the following questions to the best of your ability. Use...

Question: There is a 0.9988 probability that a randomly selected 29-year-old male lives through the year. A life insurance company charges $178 for insuring that the male will live through the year....

Question 1 Testing for a disease can be made more efficient by combining samples. If the samples from two people are combined and the mixture tests negative, then both samples are negative. On the...

I need help in this question. I have only 30 minutes. Please do it correctly and 100% and do not make any mistake. Please do the question 100% and fast please. I have only 30 minutes. There is a 0...

Among isomeric amines, tertiary amines have the lowest boiling points because: (a) they have highest molecular mass (b) they are most basic in nature (c) they are more polar in nature (d) they do not...

What is insurance? How can insurance companies bear such a large risk burden and still be profitable?

List the three works that according to Streitmatter would be included in a truly comprehensive list of reform - oriented journalism.

Mass Communication is filtered communication. Discuss

Consider the sequence 20, 14, 8, 2, . (a) Write a recursive formula of the sequence. (b) Hence find the non-recursive formula (c) Prove the non-recursive formula by using the recursive formula and...

Shown below is an adjusted trial balance for Sprouts Farmers Market, Inc. for the period ending December 31, 2013 (with the exception of Accumulated Deficit, which shows the balance at December 31,...

A company is planning production for the next 4 quarters and wants to minimize the cost of production. The production cost, demand, and production capacity vary from quarter to quarter as shown in...

Find the exact value of tan 1875

Create a 200 word summary on the Juvenile Justice System than and today. Describe The Juvenile system and provide a generalizable definition. Highlight the issues in the Juvenile system and why this...

Making a profit diminishes any social good a business creates. True/False

If a goal is not measurable, you cannot tell whether you have attained it. True/False

Inner cities are crime-ridden, poor locations for businesses. True/False