Question

Asked Sep 27, 2019

9 views

I know how to do it but I don't know how to round it to the nearest cent and get 70.51

The probability a 25 year old male passes away within the year is .001430. He pays $275 for a one year $143000 life insurance policy. What is the expected value of the policy for the insurance company? Round your answer to the nearest cent.

Step 1

The provided information is:

The life insurance policy (*L*) =143000 $

The paid money for one year (*P*) =275$

Consider, *q* is th...

Tagged in

Q: When a new machine is functioning properly, only 3% of the items produced are defective. Assume that...

A: We are given,Probability of defective = p =3% = 0.03 Randomly selected sample size = n =...

Q: Number 9.

A: Consider Ann denoted as A, Bubba denoted as B, Carlos denoted as C, David denoted as D, and Elvira d...

Q: part b in specific

A: (b) Bernoulli distribution:Bernoulli distribution is a discrete probability distribution in which th...

Q: A quantitative data set has mean 15 and standard deviation 44. Approximately what percentage of the ...

A: It is given that the mean and standard deviation of the quantitate data set are 15 and 44, respectiv...

Q: I need to find the population of the study. I know the population of the study is the group as a who...

A: Population refers to the total set of observations.In this question, you want to know the average an...

Q: I'm having a hard time understanding this question could you help me, please?

A: Probability of Getting head in a first throw = ½Flipping a coin second time is an independent event,...

Q: Given two independent random variables X and Y with means and standard deviations given by μ X = 5 ,...

A: It is given that the variables X and Y are independent.

Q: Are you more likely to be satisfied with your automobile purchase when it is new or used? The follo...

A: The given data represent the level of satisfaction of the buyer for both new and used cars.

Q: EXAMPLE 4.9 Students who seek therapy at university counseling centers often do not attend many sess...

A: Note:Hi there! Thank you for posting the question. However, it is not exactly clear what needs to be...