Question
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.)
Solutions
Expert Solution
Companies expectation = Expected income - expected outgo
= 95 * ( 1 - 0.00044) - 30000 * 0.00044
= 81.76
= $82
orchestra answered 2 years agoRelated Solutions
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, $25,000 life insurance policy to such a person
for $155, what is the company's expectation? (Round your answer to
the nearest dollar.)
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the nearest dollar.)
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Based on US mortality statistics, the probability that a 30-year
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white female? Please select the closest response.
260
290
351
231
321
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