There is a 0.9087 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $159 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out so0,00 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 27-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? The value corresponding to surviving the year is s The value corresponding to not surviving the yea i (Type integers or decimals. Do not round.) b. If the 27-year-old male purchases the policy, what is his expected value? The expected value is s (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why?

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There is a 0.9987 probability that a randomly selected 27-year-old male lives through the year. A life insurance company
charges $159 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out
s90,000 as a death benefit. Complete parts (a) through (c) below.
a. From the perspective of the 27-year-old male, what are the monetary values corresponding to the two events of surviving
the year and not surviving?
The value corresponding to surviving the year is S
The value corresponding to not surviving the year is S
(Type integers or decimals. Do not round.)
b. If the 27-year-old male purchases the policy, what is his expected value?
The expected value is S-
(Round to the nearest cent as needed.)
c. Can the insurance company expect to make a profit from many such policies? Why?
because the insurance company expects to make an average profit of $
on every 27-year-old male it insures for
1 year.
(Round to the nearest cent as needed.)
Transcribed Image Text:There is a 0.9987 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $159 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out s90,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 27-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? The value corresponding to surviving the year is S The value corresponding to not surviving the year is S (Type integers or decimals. Do not round.) b. If the 27-year-old male purchases the policy, what is his expected value? The expected value is S- (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? because the insurance company expects to make an average profit of $ on every 27-year-old male it insures for 1 year. (Round to the nearest cent as needed.)
The accompanying table lists pulse rates. Use a 0.05 significance level and apply the methods of two-way analysis of variance. What is the conclusion?
E Click on the icon to view the data table.
State the null and alternative hypotheses in the test for the effect of an interaction between row and column factors.
Ho: There
V interaction between gender and age.
Pulse Rates for Gender and Age
H: There
V interaction between gender and age.
What is the value of the test statistic for this test?
Under 30 Years of Age
Over 30 Years of Age
Female 77 104 78 64 61 97 83 97 90 95 76 76 73 67 72 78 62 71 75 57 Female
Male 59 81 55 67 67 74 74 68 61 57 48 71 62 66 89 81 61 57 65 59 Male
F = (Round to two decimal places as needed.)
What is the corresponding P-value of the test statistic, F, for this test?
Print
Done
P-value = (Round to three decimal places as needed.)
State the conclusion of this test.
MHo- There
V sufficient evidence to warrant rejection of the claim that pulse rates are not affected by an interaction between gender and age. There
V appear to be an effect from an interaction between gender and age.
State the null and alternative hypotheses in the test for the effect from the row factor.
O A. Hn: The row values are from populations with the same standard deviation.
H: At least one of the rows is sampled from a population with a standard deviation different from the others.
O B. Ho: The row values are from populations with the same mean.
H: At least one of the rows is sampled from a population with a mean different from the others.
O C. Ho: At least one of the rows is sampled from a population with a mean different from the others.
H: The row values are from populations with the same mean.
OD
In this case, the test for the effect from a row factor should not be done.
What is the value of the test statistic for this test?
O A. F= (Round to two decimal places as needed.)
O B. In this case, the test for the effect from a row factor should not be done.
What is the corresponding P-value of the test statistic, F, for this test?
O A. P-value = (Round to three decimal places as needed.)
OB.
In this case, the test for the effect from a row factor should not be done.
Transcribed Image Text:The accompanying table lists pulse rates. Use a 0.05 significance level and apply the methods of two-way analysis of variance. What is the conclusion? E Click on the icon to view the data table. State the null and alternative hypotheses in the test for the effect of an interaction between row and column factors. Ho: There V interaction between gender and age. Pulse Rates for Gender and Age H: There V interaction between gender and age. What is the value of the test statistic for this test? Under 30 Years of Age Over 30 Years of Age Female 77 104 78 64 61 97 83 97 90 95 76 76 73 67 72 78 62 71 75 57 Female Male 59 81 55 67 67 74 74 68 61 57 48 71 62 66 89 81 61 57 65 59 Male F = (Round to two decimal places as needed.) What is the corresponding P-value of the test statistic, F, for this test? Print Done P-value = (Round to three decimal places as needed.) State the conclusion of this test. MHo- There V sufficient evidence to warrant rejection of the claim that pulse rates are not affected by an interaction between gender and age. There V appear to be an effect from an interaction between gender and age. State the null and alternative hypotheses in the test for the effect from the row factor. O A. Hn: The row values are from populations with the same standard deviation. H: At least one of the rows is sampled from a population with a standard deviation different from the others. O B. Ho: The row values are from populations with the same mean. H: At least one of the rows is sampled from a population with a mean different from the others. O C. Ho: At least one of the rows is sampled from a population with a mean different from the others. H: The row values are from populations with the same mean. OD In this case, the test for the effect from a row factor should not be done. What is the value of the test statistic for this test? O A. F= (Round to two decimal places as needed.) O B. In this case, the test for the effect from a row factor should not be done. What is the corresponding P-value of the test statistic, F, for this test? O A. P-value = (Round to three decimal places as needed.) OB. In this case, the test for the effect from a row factor should not be done.
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