A 40-year-old man in the U.S. has a 0.245% risk of dying during the next year . An insurance company charges $280 per year for a life-insurance policy that pays a $100,000 death benefit. What is the expected value for the insurance company? Round your answer to the nearest dollar.

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $4.…

A: Given information Cost of raffle ticket=$4 There is 1 winning out of 180 ticket. Prize of winner=$62…

Q: A local youth group is selling raffle tickets to raise money for a trip. A raffle ticket costs $4.…

A:

Q: A venture capitalist is considering investor money in a business that she saw on the show "Shark…

A: The probability is the chance of getting the event. Let X be the random variable with the…

Q: A person has a 0.16% chance of dying in the next year. A life insurance policy with a $50,000 death…

A:

Q: A construction company is planning to bid on a building contract. The bid costs the company​$1100.…

A:

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

Q: Five hundred chances are sold at $7 apiece for a raffle. There is a grand prize of $700, two second…

A: Given that: Number of chances = 500 Selling price of a lottery = $7 Prize amount for the grand prize…

Q: The percentage of vehicles on a freeway that violate the speed limit is π = 0.88 You randomly clock…

A: Given, π = 0.88n = 80   E (X) = n × π = 80 × 0.88 = 70.4

Q: community youth group is having a raffle to raise funds. Several community businesses have donated…

A: Given information- In this details of Prize, Retail value and No. of prizes to be given away. Ticket…

Q: (a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs…

A: The mean of a probability can be calculated as: The calculation for the given data is

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A:

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: For the given The PTO is selling raffle tickets to raise money for classroom supplies. A raffle…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A:

Q: A coffee franchise is opening a new store. The company estimates that there is an 80% chance the…

A: to determine the expected value

Q: alottery ticket costs you $5. 10,000 lottery tickets are sold with only one ticket can win $5,000.…

A: It was stated that a lottery ticket costs $5. 10,000 lottery tickets are sold with only one ticket…

Q: An insurance policy sells for $1000. Based on past data, an average of 1 in 100 policyholders will…

A: Given data An insurance policy sells for $1000

Q: Find the expected value of the number of female players in the IUPL cricket team

A: It is given that Number of females,M = 19 Total N = 19+22 = 41 Sample size n = 11

Q: The scratch off tickets for the $500 Loaded game cost $5 each. If you buy one, what is the expected…

A: Given that , Cost of each ticket = $5 Total tickets = 10,452,265 The available prizes and the number…

Q: A 40-year-old man in the U.S. has a 0.245% risk of dying during the next year . An insurance company…

A: In this case, The probability of dying=0.245%…

Q: Life Insurance A 37-year-old woman purchases a S100,000 term life insurance policy for an annual…

A:

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A:

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A: The cost of 1 ticket is $3. The winner gets a prize worth $86. Total number of tickets sold is 300.

Q: What is the expected value (to you) of one raffle ticket? $ Calculate the expected value (to you)…

A: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: Using the given info we make a table Winning amount (xi) 96 0 Total Frequency 1 (210-1)=209 210…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: As per bartleby guidelines only first three subparts are to be solved. Please upload other parts…

Q: Life Insurance A 32-year-old woman purchases a $200,000 term life insurance policy for an annual…

A: From the provided information, The probability that the woman will survive the year = 0.999056 If…

Q: The expected value is $. (Round to the nearest cent as needed.) Which of the following…

A: Given :  Suppose a life insurance company sells a $260,000 1-year term life insurance policy to a…

Q: A company makes electronic components for TV's. 0% pass final inspection. 110 components are…

A: Givenp=0%=0n=110Let "x" be the no.of fails inspection in one…

Q: The value corresponding to surviving the year is $ The value corresponding to not surviving the year…

A:

Q: A 40-year-old man in the U.S. has a 0.241% risk of dying during the next year . An insurance company…

A: According to the given information, Risk of dying next year = 0.241% Charges of insurance company…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A: Given information- Cost of a raffle ticket = $3 Total no. of tickets sold = 270 So, the probability…

Q: 'A family in Nepal is planning to have N=6+I children. And you know that at least one child will…

A: It is an important part of statistics. It is widely used.

Q: An insurance company charges $983 per year to insure your car. They calculate that there is a 4%…

A: The insurance company charges $983 per year. The chance of getting accident each year is 4%. Hence…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information, Total number of tickets being sold n=800 Selling price of each ticket =$9 Number…

Q: A box containing 7 gaming monitors is sampled by a quality inspector; the box contains 4 quality…

A: For equally likely outcomes, the probability of favorable event can be given by dividing the number…

Q: petermine the expected value of the lottery Expected value Would you pay $1 for a ticket?

A: The grand prize is $30.5 million 1 million=1,000,000 30.5 million=30.5*1000000=30500000 That is,…

Q: are inspected in one day. What is the expected value of the number that fails inspection in one day?…

A: It is given that  The random variable X that is inspection follows Binomial distribution with…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: From the provided information, 210 tickets are sold, probability of being a winner = 1/210

Q: The scratch off tickets for the $500 Loaded game cost $5 each. If you buy one, what is the expected…

A: Given that - The scratch off tickets for the $500 Loaded game cost $5 each.

Q: Hector plays a game with a friend. They pay $2 and roll a 6-sided die. If the die comes up a 3 or…

A: Given Data: Profit (x) P(x) x P(x) -2 2/6 -4/6 5 4/6 20/6

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A:

Q: A coffee franchise is opening a new store. The company estimates that there is a 70% chance the…

A:

Q: An insurance policy that covers the damges on a U Haul truck for the entire rental is $100. If 1 in…

A: Given that: Average cost of repair of van is $1200. Number of damaged rental van is 1 in 200 or…

Q: a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs…

A:

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $4.…

A: Given, The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket…

Q: A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company…

A: It is given that, Revenue of the insurance company = $300. Cost of the insurance company = $…

Q: Four hundred chances are sokd at $7 apiece for a raffle. There is a grand prize of $400, two second…

A: From the given data the chances are sold at $7.Subracation of $7 from the grand prize, second prize…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.…

A: We know Expected Value is the average gain or loss if the event is occured many times Concept Used:-…

Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.