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 Find the probability distribution.The probability distribution is x 1600 p(x)
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 Find the probability distribution.The probability distribution is x 1600 p(x)
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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Question
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
Find the probability distribution.
The probability distribution is
x | 1600 | |
p(x) |
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