Insurance: An insurance company sells a 1-year term life insurance policy to an 85-year-old woman. The woman pays a premium of $1000. If she dies within 1 year, the company will pay $23,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85-year-old woman will be alive 1 year later is 0.9605. Let X be the profit made by the insurance company. Part: 0/ 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is 1000 P (x)

Insurance: An insurance company sells a 1-year term life insurance policy to an 85-year-old woman. The woman pays a premium of $1000. If she dies within 1 year, the company will pay $23,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85-year-old woman will be alive 1 year later is 0.9605. Let X be the profit made by the insurance company. Part: 0/ 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is 1000 P (x)

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter14: Counting And Probability

Section14.2: Probability

Problem 48E: Quality Control To control the quality of their product, the Bright-Light Company inspects three...

See similar textbooks