Question

There is a 0.9983 probability that a randomly selected 32-year-old male lives through the year. A life insurance company charges

$198 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out

$100,000 as a death benefit. Complete parts (a) through (c) below.

a. From the perspective of the 32-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving?

The value corresponding to surviving the year is

The value corresponding to not surviving the year is

(Type integers or decimals. Do not round.)

b. If the 32-year-old male purchases the policy, what is his expected value?

(Round to the nearest cent as needed.)

c. Can the insurance company expect to make a profit from many such policies? Why?

Answer #1

There is a
0.99880.9988
probability that a randomly selected
2929-year-old
male lives through the year. A life insurance company
charges
$144144
for insuring that the male will live through the year. If the
male does not survive the year, the policy pays out
$90 comma 00090,000
as a death benefit.
a.
From the perspective of the
2929-year-old
male, what are the monetary values corresponding to the two
events of surviving the year and not surviving?
The value corresponding to surviving...

There is a 0.99840.9984 probability that a randomly selected
3232-year-old male lives through the year. A life insurance
company charges $178178 for insuring that the male will live
through the year. If the male does not survive the year, the
policy pays out $80 comma 00080,000 as a death benefit. Complete
parts (a) through (c) below. a. From the perspective of the
3232-year-old male, what are the monetary values corresponding to
the two events of surviving the year and not...

There is a 0.9991 probability that a randomly selected
32-year-old male lives through the year. A life insurance company
charges $173 for insuring that the male will live through the
year. If the male does not survive the year, the policy pays out
100,000 as a death benefit. Complete parts (a) through (c)
below.
a. From the perspective of the 32-year-old male, what are the
monetary values corresponding to the two events of surviving the
year and not surviving?The value...

There is a .9968 probability that a randomly selected
50-year-old female will live through the year. A life insurance
company charges $226 for insuring that the female will live through
the year. If she does not survive the year, the policy pays out
$50,000 as a death benefit.
A. From the perspective of the 50-year-old female, what are the
values corresponding to the two events of surviving the year and
not surviving the year?
B. What are the probabilities associated...

there is a 0.998 6 probability that a random selected
30 year old male lives through the year a Fidelity life insurance
company charges $160 for ensuring that the mail will live through
the year. If the male does not survive the year the policy pays out
a hunch $110,000 as a death benefit if a 30 year old male purchases
a policy what is his family's expected value

The probability that a randomly selected 5-year-old male stink
bug will live to be 6 years old is 0.98016.
(a) What is the probability that two randomly selected
5-year-old male stink bugs will live to be 6 years old?
(Round to five decimal places as needed.)
(b) What is the probability that eight randomly selected
5-year-old males stink bugs will live to be 6 years old?
(Round to five decimal places as needed.)
(c) What is the probability that at...

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five randomly selected 1-year-old male feral cats will live to be
2 years old? (c) What is the probability that at least one of
five randomly selected 1-year-old male feral cats will not live to...

The probability that a randomly selected 4-year-old male stink
bug will live to be 5 years old is 0.97497.
a) What is the probability that two randomly selected 4-year-old
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b) What is the probability that eight randomly selected
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c) What is the probability that at least one of eight randomly
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five randomly selected 5-year-old male stink bugs will live to be
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The probability that a randomly selected 3-year-old male
garter snake will live to be 4 years old is 0.95586.
A,) What is the probability that two randomly selected 3
year old male garter snakes will live to be 4 years
old?
B.) What is the probability that seven randomly selected
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C.) What is the probability that at least one of seven
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