Question: The probability that a 28-year-old man in the U.S. will die within one year is approximately 0.001395. If an insurance company sells a one-year, $10,000
The probability that a 28-year-old man in the U.S. will die within one year is approximately 0.001395. If an insurance company sells a one-year, $10,000 life insurance policy to such a person for $475, what is the company's expectation? (Round your answer to the nearest dollar.)
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
