Solve the problem.
-A 28-year-old man pays $57 for a one-year life insurance policy with coverage of $100,000. If the probability that he will live through the year is 0.9992, what is the expected value for the insurance policy?
A) -$56.95
B) $99,920.00
C) $23.00
D) $80.00
Correct Answer:
Verified
Q41: Solve the problem.
-Suppose you pay $3.00 to
Q42: Use the normal distribution to approximate the
Q43: Solve the problem.
-The probabilities that a batch
Q44: Solve the problem.
-A contractor is considering a
Q45: Assume that there is a 0.15 probability
Q47: Solve the problem.
-The probabilities that a batch
Q48: Solve the problem.
-In a game, you have
Q49: Use the normal distribution to approximate the
Q50: Solve the problem.
-Suppose you buy 1 ticket
Q51: Use the normal distribution to approximate the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents