please answer and show work 1. An insurance company sold 15,000 policies ($100,000 payout value) this year. Theprobability of death for each person has been determined to be .0011. The companycharges $140 for each policy. Use the Poisson approximation to determine: (Probabil-ities to 4 decimal places)(a) P(The company breaks even)(b) P(The company profits $500,000 or more)(c) P(The company loses $300,000 or more)

Answered: 1. An insurance company sold 15,000…

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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