There is a 0.9982 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $175 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $80,000 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 $ The value corresponding to not surviving the year is $ (Type integers or decimals. Do not round.)

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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There is a 0.9982 probability that a randomly selected 27-year-old male lives through the year. A life insurance company
charges $175 for insuring that the male will live through the year. If the male does not survive the year, the policy pays
out $80,000 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 $.
The value corresponding to not surviving the year is $
(Type integers or decimals. Do not round.)
Transcribed Image Text:There is a 0.9982 probability that a randomly selected 27-year-old male lives through the year. A life insurance company charges $175 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $80,000 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 $. The value corresponding to not surviving the year is $ (Type integers or decimals. Do not round.)
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