There is a 0.9984 probability that a randomly selected 27​-year-old male lives through the year. A life insurance company charges ​$194 for insuring that the male will live through the year. If the male does not survive the​ year, the policy pays out ​$100,000 as a death benefit. Complete parts​ (a) through​ (c) below.       a. From the perspective of the 27​-year-old ​male, what are the monetary values corresponding to the two events of surviving the year and not​ surviving?   The value corresponding to surviving the year is ​$nothing. The value corresponding to not surviving the year is ​$nothing. ​(Type integers or decimals. Do not​ round.) b. If the 27​-year-old male purchases the​ policy, what is his expected​ value?   The expected value is ​$nothing. ​(Round to the nearest cent as​ needed.) c. Can the insurance company expect to make a profit from many such​ policies? Why?   ▼   No, Yes, because the insurance company expects to make an average profit of ​$nothing on every 27-year-old male it insures for 1 year

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Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.