insurance company sells a 1-year term life insurance policy to an 84-year-old any will pay $46,000 to her beneficiary. According to the U.S. Centers for Dise alive 1 year later is 0.9714. Let X be the profit made by the insurance compan probability distribution. ity distribution is 1400 X S

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.2: Probability
Problem 48E: Quality Control To control the quality of their product, the Bright-Light Company inspects three...
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Insurance: An insurance company sells a 1-year term life insurance policy to an 84-year-old woman. The woman pays a premium of $1400. If she dies within 1
year, the company will pay $46,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 84-year-old
woman will be alive 1 year later is 0.9714. 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
x
1400
X
P(x)
Transcribed Image Text:Insurance: An insurance company sells a 1-year term life insurance policy to an 84-year-old woman. The woman pays a premium of $1400. If she dies within 1 year, the company will pay $46,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 84-year-old woman will be alive 1 year later is 0.9714. 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 x 1400 X P(x)
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