Complete parts​ (a) through​ (c) below.

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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There is a
0.9986
probability that a randomly selected
27​-year-old
male lives through the year. A life insurance company charges
​$157
for insuring that the male will live through the year. If the male does not survive the​ year, the policy pays out
​$80,000
as a death benefit. Complete parts​ (a) through​ (c) below.
a. From the perspective of the
27​-year-old
​male, what are the monetary values corresponding to the two events of surviving the year and not​ surviving?
 
The value corresponding to surviving the year is
​$nothing.
The value corresponding to not surviving the year is
​$nothing.
​(Type integers or decimals. Do not​ round.)
b. If the
27​-year-old
male purchases the​ policy, what is his expected​ value?
 
The expected value is
​$nothing.
​(Round to the nearest cent as​ needed.)
c. Can the insurance company expect to make a profit from many such​ policies? Why?
 because the insurance company expects to make an average profit of
​$nothing
on every
27-year-old
male it insures for 1 year.
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