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In: Statistics and Probability

Suppose a life insurance company sells a ​$190,000 ​one-year term life insurance policy to a 20​-year-old...

Suppose a life insurance company sells a ​$190,000 ​one-year term life insurance policy to a 20​-year-old female for ​$330. The probability that the female survives the year is 0.999502. Compute and interpret the expected value of this policy to the insurance company.

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TOPIC:Expected value of random variables.

orchestra answered 2 years ago
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