There is a 0.9989 probability that a randomly selected 28-year-old male lives through the year. A life insurance company charges $141 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $90,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 28-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.) b. If the 28-year-old male purchases the policy, what is his expected value? The expected value is $. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? V because the insurance company expects to make an average profit of $ on every 28-year-old male it insures for 1 year. (Round to the nearest cent as needed.)

There is a 0.9989 probability that a randomly selected 28-year-old male lives through the year. A life insurance company charges $141 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $90,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 28-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.) b. If the 28-year-old male purchases the policy, what is his expected value? The expected value is $. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? V because the insurance company expects to make an average profit of $ on every 28-year-old male it insures for 1 year. (Round to the nearest cent as needed.)

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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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Concept explainers

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.

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Question

There is a 0.9989 probability that a randomly selected 28-year-old male lives through the year. A life insurance company charges $141 for insuring
that the male will live through the year. If the male does not survive the year, the policy pays out $90,000 as a death benefit. Complete parts (a)
through (c) below.
a. From the perspective of the 28-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.)
b. If the 28-year-old male purchases the policy, what is his expected value?
The expected va
is
(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 28-year-old male
insures for 1 year.
(Round to the nearest cent as needed.)

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