Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. 16 an insurance company sells a one year term life

16 An insurance company sells a one year term life insurance policy to a 70...

70.2K

Verified Solution

Question

Statistics

image

16 An insurance company sells a one year term life insurance policy to a 70 year old man The man pays a premium of 400 If he dies within one year the company will pay 10 000 to his beneficiary The probability that a 70 year old man is still alive one year later is 0 9715 Let X be the profit made by the insurance company Find the expected value of the profit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Please walk me through SPSS setup and complete the following, NOT just answer it, but show...

Biology
1.2K views

Fiscal policy concerns changes in supply of money and interest rates increase controlling businesses in...

Algebra
1.2K views

2 A garden s length 1 is five feet longer than the width w If...

Accounting
1.2K views

Woodland Inc. completed these long-term investment transactions during 2023 and 2024. January 14,2023...

Accounting
1.2K views

In budgetary accounting if we consider, that budgetary accounts are used to record the budgetary...

Accounting
1.2K views

Demmert Manufacturing incurred the following expenditures during the current fiscal year: annual maintenance on its...

Accounting
1.2K views

The financial statements of a company reports net credit sales of $560,000. It also reports...

Accounting
1.2K views

Required information Use the following information for the Exercises 3-7 below. (Algo) [The following information...

Accounting
1.2K views

Prepare the appropriate journal entries that Ski West would record on November 6 and December...

Finance
1.2K views

Through Fire, Incorporated, an all-equity firm, has eight shares of stock outstanding. Yesterday, the firm's...

Accounting
1.2K views

Magna International Inc. is a leading global supplier of technologically advanced automotive components, systems, and...

Accounting
1.2K views

You have just won the state lottery and have two choices for collecting your winnings....