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insurance company sells a 1-year term life insurance policy to an 84-year-old any will pay $46,000 to her beneficiary. According to the U.S. Centers for Dise alive 1 year later is 0.9714. Let X be the profit made by the insurance compan probability distribution. ity distribution is 1400 X S

insurance company sells a 1-year term life insurance policy to an 84-year-old any will pay $46,000 to her beneficiary. According to the U.S. Centers for Dise alive 1 year later is 0.9714. Let X be the profit made by the insurance compan probability distribution. ity distribution is 1400 X S

MATLAB: An Introduction with Applications
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 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)
Transcribed Image Text: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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