**Insurance Scenario:**An insurance company offers a 1-year term life insurance policy to an 81-year-old man. The man pays a premium of $3,900. In the event of his death within the year, the company will pay $62,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability of an 81-year-old man being alive after 1 year is 0.9381. Let $ X $ be the profit made by the insurance company.**Task:**Part 0 / 2 Part 1 of 2(a) Find the probability distribution.The probability distribution is| $ x $ | 3,900 | ||--------|-------|--------|| $ P(x) $ | | |- *Skip Part* - *Check Answer* **© 2023 McGraw Hill LLC. All Rights Reserved.** - *Terms of Use* - *Privacy Center*

Answered: Insurance: An insurance company sells a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Insurance: An insurance company sells a 1-year term life insurance policy to an 80-year-old man. The man pays a premium of $1200. If he dies within 1 year, the company will pay $21,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 80-year-old man will be alive 1 year later is 0.9437. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is 1200 P(x)
On the average, a certain computer part lasts ten years. The length of time the computer part lasts is exponentially distributed. a. What is the probability that a computer part lasts more than 7 years?
Find the probability of the indicated event if P(E) = 0.20 and P(F) = 0.40. Find P(E or F) if P(E and F) = 0.20. P(E or F) = (Simplify your answer.)
If the probability that an individual will suffer a bad reaction to a given vaccine is 0.19. Determine the probability that out of 3 individuals, at least two will suffer a bad reaction. [The answer should be a number rounded to five decimal places, don't use symbols such as %]
An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$
An insurance company sells a $11,500, five-year term life insurance policy to an individual for $860. Find the expected return for the company if the probability the individual will live for the next five years is 0.96. (Round your answer to the nearest cent.)
Insurance: An insurance company sells a 1-year term life insurance policy to an 79-year-old woman. The woman pays a premium of $1800. If she dies within 1 year, the company will pay $39,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 79-year-old woman will be alive 1 year later is 0.9561. Let X be the profit made by the insurance company. Part 1 of 2 (a) Find the probability distribution. The probability distribution is X -37200 1800 P(x) 0.0439 0.9561 Alternate Answer: X P(x) Part: 1 / 2 Part 2 of 2 - 37,200 1800 0.0439 0.9561 (b) Find the expected value of the profit. Expected value of the profit is S X 00
Insurance: An insurance company sells a 1-year term life insurance policy to an 80-year-old woman. The woman pays a premium of $4000. If she dies within 1 year, the company will pay $53,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 80-year-old woman will be alive 1 year later is 0.9259. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is X P(x) 4000 ☑
A high school baseball player has a 0.272 batting average. In one game, he gets 5 at bats. What is the probability he will get at least 2 hits in the game? Give answer as a decimal rounded to 3 places
The probability that an event will happen isP(E)=0.22.Find the probability that the event will not happen.
Insurance: An insurance company sells a 1-year term life insurance policy to an 84-year-old woman. The woman pays a premium of $1400. If she dies within 1 year, the company will pay $46,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 84-year-old woman will be alive 1 year later is 0.9714. Let X be the profit made by the insurance company. Part: 0 / 2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is x 1400 X P(x)

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