assume that 3 sisters took a joint insurance policy.their  ages are 34 , 28  and 24.if one of the sisters die , the policy gives an amt of 100,1000 $ each to the remaing sisters. if 2 sisters die , then the policy gives an amount of 500,000$ to the last surviving sister.in case no one dies, the insurer will pay the cash which is = 150.000.$ the term of the policy is 10 years. find the probabi;ty that the insurance comapny will pay 200, 000$

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...
icon
Related questions
Question

assume that 3 sisters took a joint insurance policy.their  ages are 34 , 28  and 24.if one of the sisters die , the policy gives an amt of 100,1000 $ each to the remaing sisters.

if 2 sisters die , then the policy gives an amount of 500,000$ to the last surviving sister.in case no one dies, the insurer will pay the cash which is = 150.000.$ the term of the policy is 10 years.

find the probabi;ty that the insurance comapny will pay 200, 000$

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Differential Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON