A man purchased a $23,000, 1-year term-life insurance policy for $400. Assuming that the probability that he will live for another year is 0.987, find the company's expected net gain.

Q: In an experiment consisting of three flips of a fair coin, what is the probability that the first…

A: Given that  In an experiment consisting of three flips of a fair coin what is the probability that…

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…

A:

Q: If records indicate that 2 houses out of 1000 are expected to be damaged by fire in any year, what…

A: Let us denote X= number of damaged houses Given that the probability of a damaged house= 2/1000 =…

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: - The average number of matches where the football matches of the Galatasaray football team were…

A: See the hand written solution

Q: d for malpractice at least on

A: given:  a 60-yearold surgeon has been sued for malpractice at least once in his/her career

Q: In an article about investment alternatives, Money magazine reported that drug stocks provide a…

A: The provided probabilities are;

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

A: Solution: Given information:   The probability of surviving insurance a quest is 80.9% = 0.809 given…

Q: A life insurance company will sell a $200,000 one-year term life insurance policy to an individual…

A:

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: An office receives 20 faxed orders every two hoursWhat is the probability that more than 12 minutes…

A: On an average, an office receives 20 faxed orders every two hours. To find: Probability that more…

Q: Refer to Table 1. Given a student was an undergraduate bus what is the probability that the student…

A:

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: a) What is the probability that the employee reimbursements exceed $12,000 next month? (b) How much…

A:

Q: a penalty being assessed is 0.31. What is the probability that your tax return is audited but you do…

A: Here  Given  Probability of tax return being audited=P(A)=0.02 ProbabIlity of Penalty being assessed…

Q: Find the expected value of the following probability distribution. Round to the nearest tenth.

A: From the given: X P(X) X·P(X) 1 1/2 1/2 2 1/3 2/3 3 1-1/2-1/3=1/6 1/2

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: 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: a. If a player bets $14 on the number 1, what is the player's expected value? The expected value is…

A:

Q: According to a study conducted by the a public health school, a child seated in the front seat who…

A: Let the events,A: Airbag deploys during an accident,K: Child is killed.It is given that airbags…

Q: (ii) If it is known that the supercapacitor has been working 950 hours, what is the probability that…

A:

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

A: Consider the provided question, Probability that insured survives happens = 0.805 and, the insurance…

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

A: From the information, the probability of surviving such a quest is 0.955 and the probability of not…

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

A:

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

A: Formula used:

Q: If BIC charge

A:

Q: In a probability experiment, 42 out of 70 trials were unsuccessful. a) What is the experimental…

A:

Q: An insurance company insures a house worth P4.500,000 for an annual premium of P25,000. If the…

A: The company's expected profit is obtained as given below: Expected value: Expected…

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: According to a study conducted by the a public health school, a child seated in the front seat who…

A:

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

A:

Q: In an experiment consisting of three flips of a fair coin, what is the probability that the first…

A: As per given by the question, there are three coins are flipped. then find the probability that the…

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 84.0% and the probability…

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: Based on historical data, an insurance company estimates that a particular customer has a 1.4%…

A: Given: The annual premium = $50 Average insurance payout = $1500 Likelihood of having accident =…

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

A: Given data

Q: According to a study conducted by the a public health school, a child seated in the front seat who…

A: Let C= event that a child was killed B= event that the airbag deployed Given that P(C|B)=1.79P(C|B')…

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

A:

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

A: The probability of surviving a quest is 0.892.

Q: In a new fiber-optic communication system, trans- mission errors occur at the rate of 1.5 per twenty…

A: Given,The average no.of errors occur per twenty seconds is 1.5so, the average no.of errors occur per…

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: for MGMT2021 during the 2021/2022 academic year, what is the probability that this student attended…

A: here from given information , attend the live class  = L attend tutorial  = T

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…

Q: Teen 16% 0.15 Young adult Midlife 8% 0.08 45% 0.04 Senior 31% 0.05 Given that a driver has been…

A: Given that a driver has been involved in at least one collision in the past year, the probability…