A 40-year-old man in the U.S. has a 0.247% risk of dying during the next year . An insurance company charges $250 per year for a life-insurance policy that pays a $100,000 death benefit. What is the expected value for the person buying the insurance? 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. What's the expected value for the item's annual benefits?

A: The provided information is X~U(a=200,b=250) a. The expected value for the item's annual benefits.…

Q: An insurance policy sells for $800.Based on past​ data, an average of 1 in 50 policyholders will…

A:

Q: What is the expected value? a. 2.79 O b. 1.97 O c. 2.97 o d. 1.79 How should the expected value be…

A:

Q: One thousand lottery tickets are sold at $2 each. A single ticket is drawn, and the winner receives…

A:

Q: a. What is the expected value of the amount the company can lose by taking the case to court?

A: A company can settle out of court for a loss of $350,000, if found guilty for go to trail then…

Q: Provide an appropriate response with details. A 28 year old man pays $206 for a one year life…

A: From the given information, the probability of he will live through the year is 0.9992. And a 28…

Q: 5. In a proposed business venture, a company estimates that there is a 60% chance the compaHY chance…

A:

Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

A: Given:settlement of case out side court loss is $350000if go to trail loss is $1350000probability of…

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: Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term…

A: a) From the given probability distribution, it can be observed that the probability that Person S…

Q: A new scratch-off lottery ticket is being designed. The initial proposal has a prize of $206 and…

A: Let X=a random variable, then E(X)=∑iX P(X) And, P(X)=Number of favorable events for XTotal possible…

Q: A 40-year-old man in the U.S. has a 0.243% risk of dying during the next year . An insurance company…

A: Given data Probability of dying = 0.00243 Cost for the insurance = $290 Insurance company will pay…

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: 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: A 38-year-old woman purchases a $300,000 term life insurance policy for an annual payment of $490.…

A: Given Information: A 38-year-old woman purchases a $300,000 term life insurance policy for an annual…

Q: An insurance company sells policies for $1,000 each. Based on historical data, an average of 1 in…

A: Introduction: Insurance is an agreement defined by a scheme under which a person or agency receives…

Q: Solve and analyze the problem A 33-year-old mother pays P12,000 per annum for a P500,000 life…

A: Using the given information we make a table Expected earning (12000 - 500000)= - 488000 (12000 -0…

Q: rizes at stake are, a laptop worth Php35,000, What is the expected value of your gain? Note: Do not…

A: Given A school club is organizing a fundraising campaign by selling raffle tickets. There are 1000…

Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

A: Given Data: Loss if company settle out of court=350000 Loss if company takes case to the court and…

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: An insurance policy sells for $300. Based on past data an average of 1 in 100 policyholders will…

A: The price of the insurance policy is: $300 Number of policies sold is: 10000 The total amount that…

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: Based on historical data, an insurance company estimates that a particular customer has a 1.5%…

A:

Q: What is the expected payout per fan?

A: Here given, Between periods at a hockey game, some fans are selected to shoot a puck at the net from…

Q: At a financial institution, a fraud detection system identifies suspicious transactions and sends…

A: To determine: The expected number of blocked transactions by the specialist Given data: At a…

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: A 31-year-old woman purchases a $100,000 term life insurance policy for an annual payment of $410.…

A: Given, The probability that she will survive the year is 0.999056. The probability that she will not…

Q: Answer the following True or False: If the profit on a raffle ticket has an expected value of -5…

A: In general, the loss is obtained by adding the ticket cost and $5.

Q: Richie's Insurance Company offers a $250,000 life insurance policy for a premium of $750 per year.…

A: Given Data: Premium=750 Life insurance cover=250000 P(life survives a year)=0.9977 P(life dies in a…

Q: Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10…

A:

Q: In a product liability case, a company can settle out of court for a loss of $350,000, or go to…

A: Let X denotes the loss to the company. The probability of not guilty verdict is, Pnot guilty…

Q: Do you think this is a good idea? Find the expected value of hosting the tournament.

A: Here Given Club Expense=$12,000 Revenue from ticket=$18,000 Probability of rain=0.2

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:

Q: There is a new type of scratch-off ticket for $60 to win one of 7 prizes of $10,000 or the grand…

A: The following data is given in the question:  Total number of tickets to be sold is 9,000 Price of…

Q: 1. What is the probability that Angelo will die in his 65th year? (Enter the decimal value.) 2. What…

A: Solution:

Q: You are deciding to launch your own jewelry line.  After researching the market, you predict you…

A: Given data After researching the market you predict you have a 37% chance of earning a $5200 and a…

Q: An LG Dishwasher, which costs $1000, has a 16% chance of needing to be replaced in the first 2 years…

A: Given Information Probability of replacing in first 2 years  = 0.16 Cost of Dishwasher $1000…

Q: A 37-year-old woman purchases a $100,000 term life insurance policy for an annual payment of $480.…

A: Expected value:   In the long run the average value obtained by repetitions for the given experiment…

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:

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: Revenue of the insurance company = $280 Cost of the insurance company = $ 100,000   It is certain…

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: How would you explain the EXPECTED VALUE in gambling, buying an insurance or in our daily life?…

A: We consider an example of an expected value in buying an insurance as follows. An electronics…

Q: Amari's family is moving to California and would like to purchase fire insurance. The insurance…

A: Here  w  = net gain for insurance company per policy  Probability of fire happens 0.0008 And…

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:-…

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

A:

Q: In a proposed business venture, a businesswoman estimates there is a 60% chance she will make…

A: Given: There are 60% chances that she will make $52000 and 40% chances that she will lose $53000. To…

Q: An investor is considering a $30,000 investment in a start-up company. She estimates that she has a…

A: Given information- Let X denotes the profit. We have given that an investor is considering a $30,000…

Q: Calculate the expected value of the lottery: ?=(0.55,200;0.25,400;0.2,600)

A:

Statements and Logic

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