A person has a 0.16% chance of dying in the next year. A life insurance policy with a $50,000 death benefit costs him $125. What is the expected value of the insurance for the person? a) -$45 b) $45 c) -$117 d) $117
A person has a 0.16% chance of dying in the next year. A life insurance policy with a $50,000 death benefit costs him $125. What is the expected value of the insurance for the person? a) -$45 b) $45 c) -$117 d) $117
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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