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In: Statistics and Probability

The probability that a 22-year-old female in the U.S. will die within one year is approximately...

The probability that a 22-year-old female in the U.S. will die within one year is approximately 0.00044. If an insurance company sells a one-year, $30,000 life insurance policy to such a person for $95, what is the company's expectation? (Round your answer to the nearest dollar.)

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Expert Solution

Companies expectation = Expected income - expected outgo

= 95 * ( 1 - 0.00044) - 30000 * 0.00044

= 81.76

= $82

orchestra answered 2 years ago
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