Question: Using the chain ratio method, estimate the market potential for life insurance in the military (active duty and veterans) market for a country. Assume

Using the chain ratio method, estimate the market potential for life insurance

Using the chain ratio method, estimate the market potential for life insurance in the military (active duty and veterans) market for a country. Assume that there are 20,100,000 veterans. Additionally, the number of active duty personnel is 1,327,262. The percentage of the population that has life insurance is 56%. Also assume the average price for a for life insurance is $1,000 and veterans and active duty personnel will purchase only one life insurance policy. The number of buyers in the market can be estimated as (Round to the nearest whole number.)

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