3) Calculate the expected monetary value of each of the following lotteries. a) An initial lottery: the probability of winning $878,000 is 1/439,000,000 b) Lottery X: the probability of winning $878,000 is 1/439,000 Emv c) Lottery Z: the probability of winning $878,000,000 is 1/439,000,000
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- There is a 0.9984 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $194 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $100,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 27-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 $nothing. The value corresponding to not surviving the year is $nothing. (Type integers or decimals. Do not round.) b. If the 27-year-old male purchases the policy, what is his expected value? The expected value is $nothing. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? ▼ No, Yes, because the insurance company expects to make an average profit of $nothing…here is a 0.9988 probability that a randomly selected 28-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 $80,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 28-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? b. If the 28-year-old male purchases the policy, what is his expected value? c. Can the insurance company expect to make a profit from many such policies? Why?There is a 0.9984 probability that a randomly selected 30-year-old male lives through the year. A life insurance company charges $142 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $80,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 30-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 $nothing. The value corresponding to not surviving the year is $nothing.
- There is a 0.9986 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $157 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $80,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 27-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 $nothing. The value corresponding to not surviving the year is $nothing. (Type integers or decimals. Do not round.) b. If the 27-year-old male purchases the policy, what is his expected value? The expected value is $nothing. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? because the insurance company expects to make an average profit of $nothing on every 27-year-old male it…41. A customer has approached a bank for a $100,000one-year loan at an 8% interest rate. If the bank doesnot approve this loan application, the $100,000 will beinvested in bonds that earn a 6% annual return. Withoutadditional information, the bank believes that there is a4% chance that this customer will default on the loan,assuming that the loan is approved. If the customerdefaults on the loan, the bank will lose $100,000. Ata cost of $1000, the bank can thoroughly investigatethe customer’s credit record and supply a favorable orunfavorable recommendation. Past experience indicatesthat the probability of a favorable recommendation for acustomer who will eventually not default is 0.80, and thechance of a favorable recommendation for a customerwho will eventually default is 0.15.a. Use a decision tree to find the strategy the bankshould follow to maximize its expected profit.b. Calculate and interpret the expected value of information (EVI) for this decision problem.c. Calculate and…There is a 0.9987 probability that a randomly selected 32 year old male lives through the year. A life insurance company charges $183 for insuring that the male will live through the the year. If the male does not survive the year, the policy pays out $80,000 as a death benefit. a. From the perspective of the 32 year old male, what are the monetary values corresponding to the two events of surviving the year and not surviving ? b. If the 32 year old male purchases the policy, what is his expected value? c. Can the insurance company expect to make a profit from many such policies? Yes or no because the insurance company expects to make an average profit of $___ on every 32 year old male it insured for 1 year.
- A local energy provider offers a landowner $180,000 for the exploration rights to natural gas on a certain site and the option for future development. This option, if exercised, is worth an additional $1,800,000 to the landowner, but this will occur only if natural gas is discovered during the exploration phase. The landowner, believing that the energy company’s interest in the site is a good indication that gas is present, is tempted to develop the field herself. To do so, she must contract with local experts in natural gas exploration and development. The initial cost for such a contract is $300,000, which is lost forever if no gas is found on the site. If gas is discovered, however, the landowner expects to earn a net profit of $6,000,000. The landowner estimates the probability of finding gas on this site to be 60%. a. Use PrecisionTree to identify the strategy that maximizes the landowner’s expected net earnings from this opportunity. b. Perform a sensitivity analysis on the…There is a 0.9983probability that a randomly selected 28-year-oldmale lives through the year. A life insurance company charges $198for insuring that the male will live through the year. If the male does not survive the year, the policy pays out$110 , 110,000 as a death benefit. From the perspective of the 28-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 $_. The value corresponding to not surviving the year is $_. (Type integers or decimals. Do not round.) b. If the 28-year-oldmale purchases the policy, what is his expected value? The expected value is $_. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? ( no or yes) ,because the insurance company expects to make an average profit of $_ on every 28-year-old male it insures for 1 year. (Round to the nearest cent as…There is a 0.9988 probability that a randomly selected 28 -year-old male lives through the year. A life insurance company charges $198 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $100,000 as a death benefit From the perspective of the 28-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? The value corresponding to surviving the year is$ The value corresponding to not surviving the year is$ (Type integers or decimals. Do not round.)
- In a staff meeting called to address the problem of returned cheques at the supermarkets where you are interning as a financial analyst, the bank reports that 12 percent of all cheques are returned for insufficient funds, and of those, in those 50 percent of cases, there was cash given back to the customer. overall ,10 percent of customers ask for cash back at the end of their transaction with the store. For 1,000 customer visits, how many transactions will involve:In a staff meeting called to address the problem of returned cheques at the supermarkets where you areinterning as a financial analyst, the bank reports that 12 percent of all cheques are returned for insufficientfunds, and of those, in those 50 percent of cases, there was cash given back to the customer. overall ,10percent of customers ask for cash back at the end of their transaction with the store. For 1,000 customervisits, how many transactions will involve: (f) insufficient funds?(g) Cash back to the customer?(h) Both insufficient funds and cashback?(i) Either insufficient funds or cash back?There is a 0.9987 probability that a randomly selected 28-year-old male lives through the year. A life insurance company charges $145 tor insunng that the male will Ive througn the year. It the male does not survive the year, the policy pays out $80,000 as a death benefit. Complete parts (a) tnrougn (c) Derow. a. From he perspective or the 28-year-old male, what are the monetary values corresponding to the two events of sunViving the year and not surviving? The value corresponding to surviving the year is $___ The value corresponding to not surviving the year is$___ (Type integers or decimals. Do not round.
