Mathematics, 07.04.2020 17:01 tay9122
There is a 0.9986 probability that a randomly selected 29 -year-old male lives through the year. A life insurance company charges $176 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $110 comma 000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 29-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving?The value corresponding to surviving the year is $nothingThe value corresponding to not surviving the year is $nothing(Type integers or decimals. Do not round.)b. If the 29-year-old male purchases the policy, what is his expected value? Can the insurance company expect to make a profit from many such policies? Why?From the point of view of the insurance company, the expected value of the policy is
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There is a 0.9986 probability that a randomly selected 29 -year-old male lives through the year. A l...
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