A company that sells annuities must base the annual payout on the probability distribution of life of the participants in the plan. Suppose the probability distribution of lifetimes of participants is approximately a normal distribution with a mean of 68  years and a standard deviation of 3.5 years. What is the probability of plan recipients dying before they reach the standard retirement age of 65?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A company that sells annuities must base the annual payout on the probability distribution of life of the participants in the plan. Suppose the probability distribution of lifetimes of participants is approximately a normal distribution with a mean of 68  years and a standard deviation of 3.5 years. What is the probability of plan recipients dying before they reach the standard retirement age of 65? 

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