The probability that an 80-year-old male in the U.S. will die within one year is approximately 0.069941. If an insurance company sells a one-year, $12,000 life insurance policy to such a person for $495, what is the company's expectation

Answers

Answer 1

The company's expectation is $486.26.

Since the probability that an 80-year-old male in the U.S. will die within one year is approximately 0.069941, to determine, if an insurance company sells a one-year, $ 12,000 life insurance policy to such a person for $ 495, what is the company's expectation, the following calculation must be performed:

(12000 x 0.069941 / 100) + (495 x (100 - 0.069941) / 100) = X -8.39292 + 494.65379205 = X 486.26 = X

Therefore, the company's expectation is $486.26.

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Related Questions

From a hot-air balloon, Grayson measures a 29^{\circ} ∘ angle of depression to a landmark that’s 1004 feet away, measuring horizontally. What’s the balloon’s vertical distance above the ground? Round your answer to the nearest hundredth of a foot if necessary.

Answers

The balloon’s vertical distance above the ground is 556 feet

The set up will form a right triangle.

Given the following parameters

Angle of depression = 29 degreesHorizontal distance = 1004 feet

To get the height above the ground, we will use the SOH CAH TOA identity as shown;

Opposite = h

Adjacent = 1004 feet

Tan theta = h/1004

Tan 29 = h/1004

h = 1004 tan 29

h = 1004(0.5543)

h = 556.52 feet

Hence the balloon’s vertical distance above the ground is 556 feet

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Answer: 4/33 feet

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Answer:

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Answer:

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Answers

[tex]\large\huge\green{\sf{Answer:-}}[/tex]

the coefficient of   x in the polynomial  ( 4y - 13  - 5z - 4x ) is -4

Answer:

[tex]\huge\boxed{\sf -4}[/tex]

Step-by-step explanation:

The given polynomial is:

4y - 13 - 5z - 4x

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[tex]\rule[225]{225}{2}[/tex]

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Answers

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Answer:

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Step-by-step explanation:

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Answers

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Answer:

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Answers

Area of triangle= 1/2 bh
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Answer:

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Answers

Answer:

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