The probability that a 50-year old female will die within 1-year is 0.000829. If an insurance company sells a 1-year, $64000 life insurance policy to a 50-year old female for $57, what is the expected value for the insurance company? Round your answer to the nearest cent.

The probability that a 50-year old female will die within 1-year is 0.000829. If an insurance company sells a 1-year, $64000 life insurance policy to a 50-year old female for $57, what is the expected value for the insurance company? Round your answer to the nearest cent.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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