Question: Tutorial Exercise The probability that an 80 year old male in the U S will die within one year is approximately 0 069941 If an

Tutorial Exercise The probability that an 80 year old male in the U S will die within one year is approximately 0 069941 If an insurance company sells a one year 13 000 life insurance policy to such a person for 432 what is the company s expectation Part 1 of 3 Let S be the event that the person dies within one year Then P S 0 069941 Submit Skip you cannot come back In this case the Fompany has to pay out 13 000 Since the company charged 432 for this policy the company s actual loss is X

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!

Help me answer all of the following activities and please do follow the page numberings thank you in advance Activity 3. Direction: Read and analyze the situation below. Answer the questions as...

1. A player throws a fair die and simultaneously flips a fair coin. If the coin lands heads, then she wins twice, and if tails, then one-half of the value that appears on the die. Determine her...

5. How strong are the competitive forces confronting harley davidson in the global motorcycle industry? Dont use other information than the information in the case below, it will not be usefull if...

Please answer the question below. You need to read the imaginary case Tesla-motorcycles in order to answer the questions. -What are the primary components of Tesla Motorcycles value chain? The answer...

Determine whether the value 95% is a parameter or statistic: 95% of College A's students are women Statistic O Parameter

Please answer the questions below. You need to read the imaginary case Tesla-motorcycles in order to answer the questions. - What do you see as the key success factors in the global motorcycle...

Student: allan cranford Date: 9/7/16 Instructor: Basu Dipanker Course: MAT-240-Q6622-16EW6 Assignment: 1-3 MyStatLab: Module One Problem Set 1. The following data represent the percent of owners of...

The probability that a 22-year-old female in the U.S. will die within one year is approximately 0.00044. An insurance company sells a one-year, $30,000 life insurance policy to such a person for...

with clear explanation 1.An insurance company sells a one year term life insurance policy to an 80 year old woman. The woman pays a premium is $1000. If she dies within one year, the company will pay...

BACKGROUND An SM bond is a 35-year Australian government bond with a face value of $1. They are marketed to consumers saving for retirement (who buy the S part) and investors (who buy the M part)....

Statsen Company, which prepares financial reports at the end of the calendar year, established a branch on July 1, 2020. The following transactions occurred during the formation of the branch and its...

One method commonly used by both governments and private health insurers to control the growth in health care spending are limits to reimbursement to providers. How can these limits to reimbursement...

Which one of the following is not a source of capital for firms? Question 4 Select one: a . debt b . preferred stock c . dividend d . common stock

The force constant of a massless spring is 2 5 . 0 N / m . A mass of 0 . 4 5 kg is oscillating in simple harmonic motion at the end of the spring

The first step in ethical decision making is to understand the individual factors that influence the process. Yes No

Describe Conners moral beliefs and values. mk5

Core values are enduring beliefs about appropriate conduct. Yes No