Question
In: Statistics and Probability
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.)
Solutions
orchestra answered 2 years agoRelated Solutions
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 $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 $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.
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 $______
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.
Suppose a life insurance company sells a $260 comma 000260,000 one-year term life insurance policy to...
Suppose a life insurance company sells a $260 comma 000260,000
one-year term life insurance policy to a 2424-year-old female for
$350350. The probability that the female survives the year is
0.9996410.999641. 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.) Which of the following
interpretation of the expected value is correct? A. The insurance
company expects to make an average profit of $31.8131.81 on...
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.
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