Question
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.
Solutions
orchestra answered 2 years agoRelated Solutions
Suppose a life insurance company sells a $190,000 one-year term life insurance policy to a 24-year-old...
Suppose a life insurance company sells a $190,000 one-year term
life insurance policy to a 24-year-old female for $200. The
probability that the female survives the year is .999461. Compute
and interpret the expected value of this policy to the insurance
company.
Suppose a life insurance company sells a $200,000 one-year term life insurance policy to a 23-year-old...
Suppose a life insurance company sells a $200,000 one-year term
life insurance policy to a
23-year-old female for $190. The probability that the female
survives the year is
0.999594. Compute and interpret the expected value of this
policy to the insurance company.
Suppose a life insurance company sells a $160,000 one-year term life insurance policy to a 25-year-old...
Suppose a life insurance company sells a
$160,000
one-year term life insurance policy to a
25-year-old
female for
$280.
The probability that the female survives the year is
0.9996420
Compute and interpret the expected value of this policy to the
insurance company.
The expected value is
$nothing.
(Round to two decimal places as needed.)
A life insurance company sells a $250,000 1-year term life insurance policy to a 20-year old...
A life insurance company sells a $250,000 1-year term life
insurance policy to a 20-year old male for $350. The probability
this person survives the year is 0.98734. Compute the expected
value of this policy to the insurance company to the nearest
0.01.
suppose a life insurance company sells a $240,000 one year term life insurance policy to a...
suppose a life insurance company sells a $240,000 one year term
life insurance policy to a 19 year old female for $270. the
probability that the female survives the year is .999522. compute
and interpret the expected value if this policy to the insurance
company.
the expected value is $______
Life Insurance:A life insurance company sells a$250,000 1-year term life policy to a 20-year-old...
Life Insurance:A life insurance company sells a
$250,000 1-year term life policy to a 20-year-old male for $350.
According to the National Vital Statistics Report, the probability
that the male survives the year is 0.998734.Please answer all questions and do
not hand write your answers. Show your work or please leave the
question for someone who can. Thank youa)Compute the expected value.b)Interpret the expected value of this policy to the insurance
company.
Suppose a life insurance company sells a $290,000 a year term life insurance policy to a...
Suppose a life insurance company sells a $290,000 a year term
life insurance policy to a 20-year-old female for $200. The
probability that the female survives the year is 0.999634. compare
and interpret the expected value of this policy to the insurance
company. the expected value is $___ (round to two decimal places as
needed)
Suppose a life insurance company sells a $230 comma 230,000 one-year term life insurance policy to...
Suppose a life insurance company sells a $230 comma 230,000
one-year term life insurance policy to a 19-year-old female for
$230. The probability that the female survives the year is
0.999588. Compute and interpret the expected value of this policy
to the insurance company.
Suppose a life insurance company sells a $220 comma 000 one-year term life insurance policy to...
Suppose a life insurance company sells a $220 comma 000
one-year term life insurance policy to a 23-year-old female for
$190. The probability that the female survives the year is
0.999524. Compute and interpret the expected value of this policy
to the insurance company. The expected value is $
Suppose a life insurance company sells a $180 comma 000180,000 one-year term life insurance policy to...
Suppose a life insurance company sells a
$180 comma 000180,000
one-year term life insurance policy to a
2222-year-old
female for
$280280.
The probability that the female survives the year is
0.9995450.999545.
Compute and interpret the expected value of this policy to the
insurance company.
The expected value is
$nothing.
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