Insurance: An insurance company sells a 1 -year term life insurance policy to an 85 -year-old man. The man pays a premium of $1600 . If he dies within 1 year, the company will pay $33,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85 -year-old man will be alive 1 year later is 0.9537 . Let X be the profit made by the insurance company. Part: 0 / 2 0 of 2 Parts Complete Part 1 of 2 (a) Find the probability distribution.The probability distribution is x 1600 Px

Insurance: An insurance company sells a 1 -year term life insurance policy to an 85 -year-old man. The man pays a premium of $1600 . If he dies within 1 year, the company will pay $33,000 to his beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 85 -year-old man will be alive 1 year later is 0.9537 . Let X be the profit made by the insurance company. Part: 0 / 2 0 of 2 Parts Complete Part 1 of 2 (a) Find the probability distribution.The probability distribution is x 1600 Px

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section: Chapter Questions

Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...

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