Tutorial Exercise The probability that an 80 year old male in the U S will...
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Tutorial Exercise The probability that an 80 year old male in the U S will die within one year is approximately 0 069941 If an insurance company sells a one year 13 000 life insurance policy to such a person for 432 what is the company s expectation Part 1 of 3 Let S be the event that the person dies within one year Then P S 0 069941 Submit Skip you cannot come back In this case the company has to pay out 13 000 Since the company charged 432 for this policy the company s actual loss is 506 264
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