Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided.
| x = age | 60 | 61 | 62 | 63 | 64 |
|---|---|---|---|---|---|
| P(death at this age) | 0.01066 | 0.01402 | 0.01663 | 0.01978 | 0.02377 |
Jim is applying to Big Rock Insurance Company for his term insurance policy.
(a)
What is the probability that Jim will die in his 60th year?
(Enter a number. Enter your answer to five decimal places.)
Using this probability and the $50,000 death benefit, what is the
expected cost to Big Rock Insurance (in dollars)? (Enter a number.
Round your answer to two decimal places.)
$
(b)
What is the expected cost to Big Rock Insurance for years 61,
62, 63, and 64 (in dollars)? (For each answer, enter a number.
Round your answers to two decimal places.)
year 61 $
year 62 $
year 63 $
year 64 $
What would be the total expected cost to Big Rock Insurance over
the years 60 through 64 (in dollars)? (Enter a number. Round your
answer to two decimal places.)
$
(c)
If Big Rock Insurance wants to make a profit of $700 above the
expected total cost paid out for Jim's death, how much should it
charge for the policy (in dollars)? (Enter a number. Round your
answer to two decimal places.)
$
(d)
If Big Rock Insurance Company charges $5000 for the policy, how
much profit does the company expect to make (in dollars)? (Enter a
number. Round your answer to two decimal places.)
$
In: Statistics and Probability
In: Operations Management
A method used by the Environmental Protection Agency (EPA) for determining the concentration of ozone in air is to pass the air sample through a "bubbler" containing sodium iodide, which removes the ozone according to the following equation: O3(g)+2NaI(aq)+H2O(l)→O2(g)+I2(s)+2NaOH(aq)
Part A) How many moles of sodium iodide are needed to remove 5.95×10−6 mol O3?
Part B) How many grams of sodium iodide are needed to remove 2.1 mg of O3?
In: Chemistry
Consider the perfectly competitive market for canoes. Suppose the market demand for canoes is described by: Q d = 200 − 2 P and the market supply of canoes is described by: Q s = 2 P.
In: Economics
T or F with concise Explaination
Constrained price-bottom government policies lead to excessive
demand, which is more inefficient than market discipline ( )
Those who have the will and ability to pay the price get scarce
resources in the market economy.()
A decrease in supply will cause the biggest price increase when
demand is very inelastic. ( )
If the government removes taxes on goods, both the price paid by
the buyer and the price received by the seller will be lowered."
()
For an inelastic demand curve, the total return moves in the same
direction as the price ().
In: Economics
DNA polymerase III builds new DNA strands in the 5' to 3' direction...always adding the new nucleotide to the 3' end of the existing strand. As it adds new nucleotides, it proofreads its work. If a mistake is detected, DNA polymerase will act as an exonuclease and excise the incorrect nucleotide. A. What supplies the energy needed to add the new nucleotide to the existing chain? B. Please explain why evolution has favored 5’ to 3’ polymerases, as opposed to 3’ to 5’ ones (hint...what happens if DNA Polymerase removes a nucleotide?).
In: Biology
|
Name of Enzyme |
Function |
Writer (W)or Eraser (E)? |
Action leads to open (O) or closed (C) chromatin |
Effect on transcription (+/-) |
|
Adds acetyl groups to histones |
||||
|
HMT |
||||
|
HDAC |
||||
|
Removes methyl groups from histones |
||||
|
DMT |
Ill Rate High
In: Biology
Data Structures on Java
Basic Linked List exercises
a. Suppose x is a linked-list node and not the last node on the list.
What is the effect of the following code fragment?
x.next = x.next.next
b. Singly Linked List has two private instance variables first and last as that point to the first and the last nodes in the list, respectively. Write a fragment of code that removes the last node in a linked list whose first node is first. Is there any advantage of keeping the last pointer in a linked list implementation? Explain.
In: Computer Science
C++ PROGRAM
Code a generic (with templates) Queue structure (linear Data structure with FIFO functionality) and create a test to validate its functionality. The data consists of persons with the attributes of name, last name, age, height and weight.
- Remembrer that,
Their structure consists of:
And the following operations:
In: Computer Science
Assume that x has a normal distribution with the specified mean and standard deviation. Find the indicated probability. (Enter a number. Round your answer to four decimal places.)
μ = 18; σ = 3.6
P(x ≥ 30) =
In: Statistics and Probability