The probability that a 29-year old female will die within 1-year is 0.000594. If an insurance company sells a 1-year, $50000 life insurance policy to a 29-year old female for $77, what is the expected value for the insurance company? Round your answer to the nearest cent.
The probability that a 29-year old female will die within 1-year is 0.000594. If an insurance company sells a 1-year, $50000 life insurance policy to a 29-year old female for $77, what is the expected value for the insurance company? Round your answer to the nearest cent.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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The probability that a 29-year old female will die within 1-year is 0.000594. If an insurance company sells a 1-year, $50000 life insurance policy to a 29-year old female for $77, what is the
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