**Probability and Life Insurance Scenario**In this scenario, there is a 0.9986 probability that a randomly selected 32-year-old male will live through the year. A life insurance company offers a policy that requires an annual premium of $189 for the assurance that this individual will live through the year. Should the insured individual not survive the year, a death benefit of $100,000 is paid out by the policy.To evaluate this insurance policy from the perspective of the 32-year-old male, consider the monetary values associated with the two possible outcomes:- **Surviving the Year:** The cost is the premium paid, which is **$189**.- **Not Surviving the Year:** The benefit received is the death benefit minus the premium paid, resulting in a value of **$100,000**.These calculations, assuming no rounding, can provide insights into the risk and benefits associated with this life insurance policy.

There is a 0.9986 probability that a randomly selected 32-year-old male lives through the year. A life insurance company charges $189 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 32-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.)

There is a 0.9986 probability that a randomly selected 32-year-old male lives through the year. A life insurance company charges $189 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 32-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

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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