According to the tables used by insurance companies, a 39-year old woman has a 0.163% chance of passing away during the coming year. An insurance company charges $242 for a life insurance policy that pays a $100,000 death benefit. What is the expected value for the person buying the insurance? State your answer in terms of money, but do not include a $ sign with your response,

According to the tables used by insurance companies, a 39-year old woman has a 0.163% chance of passing away during the coming year. An insurance company charges $242 for a life insurance policy that pays a $100,000 death benefit. What is the expected value for the person buying the insurance? State your answer in terms of money, but do not include a $ sign with your response,

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section: Chapter Questions

Problem 35T

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