Sam is applying for a single year life insurance policy worth $29,650.00. If the actuarial tables determine that she will survive the next year with probability 0.994, what is her expected value for the life insurance policy if the premium is $442.00? Give your answer to the nearest penny. (Note: Include dollar signs in your answer. If your answer is negative, answer as -$123.45)

Q: A magazine subscription service is having a contest in which the prize is $40,000. If the company…

A: Solution-: A magazine subscription service is having a contest in which the prize is $40,000. If the…

Q: A magazine subscription service is having a contest in which the prize is $270,000. If the company…

A: Given that the winning amount= $270,000 There are total 3 million entries for the contest. So the…

Q: A man purchased a $25,000, 1-year term-life insurance policy for $350. Assuming that the probability…

A: Given:A man purchased a $25,000, 1-year term-life insurance policy for $350.The probability that he…

Q: If an average of 40 calls is required in a typical eight hour shift, what is the probability that no…

A: Given that, An average of 40 calls is required in a typical eight hour shift. Required: To find the…

Q: A 28-year-old man pays $110 for a one-year life insurance policy with coverage of $100,000. If the…

A:

Q: a. If a customer complains that her package of the film does not show the expiration date, what is…

A: AS PER POLICY I HAVE CALCULATED 3 SUBPART

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given, Probablity of surviving is 96.9%.  Premium charged by BIC is 8416 silver coins. Death benifit…

Q: A man purchased a $23,000, 1-year term-life insurance policy for $400. Assuming that the probability…

A: Given that probability that he will live for another year = 0.987 Probability that he will die…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Solution: Given information:   The probability of surviving insurance a quest is 80.9% = 0.809 given…

Q: If X ~ exp ((b), calculate the probability that X exceeds its expected value.

A: It is given that X~Exp(b), the PDF PDF of X is given by,

Q: The Mobile Oil company has recently acquired oil rights to a new potential source of natural oil in…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given that, Probability of surviving = P(Surviving) = 89.8% = 89.8 ÷ 100 = 0.898 Probability of…

Q: Find the expected value of the following probability distribution. Round to the nearest tenth.

A: From the given: X P(X) X·P(X) 1 1/2 1/2 2 1/3 2/3 3 1-1/2-1/3=1/6 1/2

Q: Derive the expected value of Y? (0, else

A: Given:  Distribution function of Lifespan of bulb is given  f(y)=(y*e^-y/10)/100      : y>0  Then…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given: BIC charges a premium = 6591 silver coins. BIC pay a death benefit = 47460 The probability of…

Q: What is the conditional probability that the wife earns more than $125,000, given that the husband…

A: Here use given contingency table for probability  Here total = 500

Q: Find the expected value (for the participants) for lottery with 4000 sold tickets by price $50.00…

A: Given data is : 4000 ticket Price per ticket is $50.00 One winning ticket is $12000

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Formula :  Expected value = ∑xP(x)

Q: An insurance policy sells for $700.  Based on past data, an average of 1 in 50 policyholders will…

A: Let us make a table for the claims and the probabilities  claim 5500 10000 25000 probability…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: In statistics, the continuous variables are variables whose values can be given by an interval, they…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Consider the provided question, Probability that insured survives happens = 0.805 and, the insurance…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: From the information, the probability of surviving such a quest is 0.955 and the probability of not…

Q: . Sasuke of Hokage Design and Build Company has two bidding appointments on a given day. At the…

A: Correct option is d) 14750

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A:

Q: A town recently dismissed 6 employees in order to meet their new budget reductions. The town had 6…

A: Given data: The numbers of employees dismissed are d=6. The numbers of employees over 50 years are…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Probability of surviving a quest is 86.4% Charge of premium = 7014 silver coins pay death benefit =…

Q: If BIC charge

A:

Q: What is the expected value at node 2? $20 million $7.5 million $10 million $15 million

A: here for expected value at node 2 draw tree for only node 2

Q: An insurance company insures a house worth P4.500,000 for an annual premium of P25,000. If the…

A: The company's expected profit is obtained as given below: Expected value: Expected…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A:

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: From the given information, the probability of surviving such a quest is 84.0% and the probability…

Q: A man purchased a $26,000, 1-year term-life insurance policy for $375. Assuming that the probability…

A: The probability that the man will live another year= 0.99 =the probability that the company loses…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given data

Q: At a​ raffle, 10,000 tickets are sold at​ $5 each for three prizes valued at​ $4,800, $1,200, and​…

A:

Q: If the publishing company has a total of 280 sales representatives, what is the expected bonus that…

A: The given data is, X P(X) X*P(X) 24000 0.11 2640 13000 0.35 4550 6000 0.12 720 Total 1…

Q: According to a life insurance​ company's mortality​ table, the probability that a woman of a certain…

A: The given data: Probability that a woman will survive= 0.993 Probability that the woman will die =…

Q: Based on historical data, an insurance company estimates that a particular customer has a 2.9%…

A: Given: An insurance company estimates that a particular customer has a 2.9% likelihood of having an…

Q: You draw and keep a single coin from a bowl that contains 12 pennies, 9 dimes, and 20 quarters. What…

A: The given information is that the bowl contains the12 pennies, 9 dimes, and 20 quarters.It is known…

Q: A church is holding a raffle and sells 500 tickets for $2 each. If the church awards one $100 first…

A: Note:Hey there! Thank you for posting the question. Your question says “what is the expected value…

Q: If the famous insurance company, Lloyd’s of London, insures a $3 million Monet painting for $5000…

A: Given information Insurance cost = $5000 per year Insurance benefit = $3,000,000 Probability of…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given that, Probability of surviving = P(Surviving) = 95.8% = 95.8 ÷ 100 = 0.958 Probability of…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: The probability of surviving = 0.885Money earned by BIC if the insured person survives = 9970 silver…

Q: Provide an appropriate response. 12) A 28-year-old man pays $165 for a one-year life insurance…

A:

Q: If the weight (in grams) of cereal in a box of Lucky Charms is N(485,3), what is the probability…

A:

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: The probability of surviving a quest is 0.892.

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given information Probability of surviving the quest = 0.883Amount charged by the company = 8804…

Q: The Mobile Oil company has recently acquired oil rights to a new potential source of natural oil in…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: We make a table using the given information. Payment 0 49,518 Probability 95.5%=0.955…

Q: If a raffle had a mathematical expectation of -$3.25, what would that mean?

A: The mathematical expectation value for the raffle is -$3.25.