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.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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.
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