Insurance: An insurance company sells a 1-year term life insurance policy to an 85-year-old woman. The woman pays a premium of $2300. If she dies within 1 year, the company will pay $62,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85-year-old woman will be alive 1 year later is 0.9645. 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 2300 x P(x) ☐ ☐

Insurance: An insurance company sells a 1-year term life insurance policy to an 85-year-old woman. The woman pays a premium of $2300. If she dies within 1 year, the company will pay $62,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85-year-old woman will be alive 1 year later is 0.9645. 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 2300 x P(x) ☐ ☐

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter13: Probability And Calculus

Section13.3: Special Probability Density Functions

Problem 43E

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