A 28-year-old man pays $110 for a one-year life insurance policy with coverage of $100,000. If the probability that he will live through the year is 0.9992, what is the expected value for the insurance policy for the man?

Q: 35 year old man pays $191 for a one year life insurance policy with a coverage of $140,000 if the…

A: Given that a 35 year old man pays $191 for a one year life insurance policy with a coverage of…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A:

Q: A man purchased a $25,000, 1-year term-life insurance policy for $350. Assuming that the probability…

A: Given:A man purchased a $25,000, 1-year term-life insurance policy for $350.The probability that he…

Q: An insurance company has written 100 policies for $75,000, 500 policies for $20,000, and 1000…

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Q: a. From the perspective of the 50-year-old female, what are the values corresponding to the two…

A: Here it is given that, there is a 0.9968 probability that a randomly selected 50-year-old female…

Q: Based on historical data, an insurance company estimates that a particular customer has a 2.3%…

A: Given information An insurance company estimates that a particular customer has a 2.3% likelihood of…

Q: a. If a customer complains that her package of the film does not show the expiration date, what is…

A: AS PER POLICY I HAVE CALCULATED 3 SUBPART

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given, Probablity of surviving is 96.9%.  Premium charged by BIC is 8416 silver coins. Death benifit…

Q: A man purchased a $23,000, 1-year term-life insurance policy for $400. Assuming that the probability…

A: Given that probability that he will live for another year = 0.987 Probability that he will die…

Q: If X ~ exp ((b), calculate the probability that X exceeds its expected value.

A: It is given that X~Exp(b), the PDF PDF of X is given by,

Q: The chart below lists the number of boats John expects to sell each week along with the…

A: 1. Let X be the number of boats expected to be sold each week. So, the data given in the question…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given Data: Probability of surviving=0.865 Probability of death=1-0.865=0.135 Premium=7905 Death…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given that, Probability of surviving = P(Surviving) = 89.8% = 89.8 ÷ 100 = 0.898 Probability of…

Q: A contractor is considering a sale that promises a profit of $23,0000 with a probability of 0.7 or a…

A:

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Final answer is: 5446 silver coins

Q: According to the tables used by insurance companies, a 39-year old woman has a 0.163% chance of…

A:

Q: An insurance company sells a policy for $800. There is a 1/20 chance that the insurance company will…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: Derive the expected value of Y? (0, else

A: Given:  Distribution function of Lifespan of bulb is given  f(y)=(y*e^-y/10)/100      : y>0  Then…

Q: The term probability refers to random events, which comes out the same when experiments are…

A: Given data: The term probability refers to random events, which comes out the same when experiments…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given: BIC charges a premium = 6591 silver coins. BIC pay a death benefit = 47460 The probability of…

Q: In research, it is conventional to reject the null hypothesis if the probability value is lower than…

A: The decision rule of the hypothesis test is given as follows: If the p-value ≤ α, then the null…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: From the given information, the probability of surviving such a quest is 94.0% and the probability…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Formula :  Expected value = ∑xP(x)

Q: Based on historical data, an insurance company estimates that a particular customer has a 2.2%…

A: Given, The Annual Premium = $100 Payout = $1500 P (Non survival) = 2.2% = 0.022

Q: An insurance policy sells for $700.  Based on past data, an average of 1 in 50 policyholders will…

A: Let us make a table for the claims and the probabilities  claim 5500 10000 25000 probability…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: In statistics, the continuous variables are variables whose values can be given by an interval, they…

Q: An insurance policy sells for $1,000. Based on your past data, an average of 1 in 50 policyholders…

A: The expected value for the company per policy sold can be calculated using the following…

Q: An insurance policy sells for ​$1200. Based on past​ data, an average of 1 in 125 policyholders will…

A: Given that  An insurance policy sells for ​$1200. An average of 1 in 125 policyholders will file a…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Probability of surviving a quest is 86.4% Charge of premium = 7014 silver coins pay death benefit =…

Q: A man purchased a $22,000, 1-year term-life insurance policy for $400. Assuming that the probability…

A: Formula used:

Q: A church is holding a raffle and sells 500 tickets for $2 each. If the church awards one $100 first…

A: There is one $100 prize  So the probability of winning $100 is = 1/500    there are two $50 prize So…

Q: An insurance company has written 50 policies for ​$125,000​, 100 policies for ​$30,000​, and 250…

A: we can find n = (50*125000+100*30000+250*10000) = 11750000

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A:

Q: A man purchased a $26,000, 1-year term-life insurance policy for $375. Assuming that the probability…

A: The probability that the man will live another year= 0.99 =the probability that the company loses…

Q: The probability that Ms. Brown will sell a piece ofproperty at a profit of $3,000 is 3 20 , the…

A: Given,The probability of profit of $3,000 =320The probability of profit of $1,500 = 720The…

Q: At a​ raffle, 10,000 tickets are sold at​ $5 each for three prizes valued at​ $4,800, $1,200, and​…

A:

Q: According to a life insurance​ company's mortality​ table, the probability that a woman of a certain…

A: The given data: Probability that a woman will survive= 0.993 Probability that the woman will die =…

Q: Based on historical data, an insurance company estimates that a particular customer has a 2.9%…

A: Given: An insurance company estimates that a particular customer has a 2.9% likelihood of having an…

Q: A church is holding a raffle and sells 500 tickets for $2 each. If the church awards one $100 first…

A: Note:Hey there! Thank you for posting the question. Your question says “what is the expected value…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given that, Probability of surviving = P(Surviving) = 95.8% = 95.8 ÷ 100 = 0.958 Probability of…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: The probability of surviving = 0.885Money earned by BIC if the insured person survives = 9970 silver…

Q: An insurance policy sells for $720. Based on past data, an average of 1 in 70 policyholders will…

A: an average of 1 in 70 policyholders will file a $10,000 claim, an average of 1 in 100 policyholders…

Q: Provide an appropriate response. 12) A 28-year-old man pays $165 for a one-year life insurance…

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Q: What is the expected value of a single ticket in the raffle?

A: To find  expected value of a single ticket in the raffle

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given information Probability of surviving the quest = 0.883Amount charged by the company = 8804…

Q: The annual premium for a ​$5,000 insurance policy against the theft of a painting is ​$250.  If the​…

A:

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Introduction: The premium of 7,591 silver coins charged by the insurance company is the amount that…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: We make a table using the given information. Payment 0 49,518 Probability 95.5%=0.955…