Explanation Given: Insurance of the 50 years old people, 1million Death rate, 5 per thousand people Cost of the premium, P = $200 Death benefit, DB = 50000 Calculation: The number of total death in one year for the population of 1million Death = 5 1000 × 1000000 = 5000 Total money deposited in the insurance company = $ 200 × 1000000

Using & Understanding Mathematics, Books a la Carte edition (7th Edition)

7th Edition

ISBN: 9780134716015

Author: Jeffrey O. Bennett, William L. Briggs

Publisher: PEARSON

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Chapter 7.D, Problem 23E

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Profit or loss of the insurance company.

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Chapter 7.D, Problem 22E

Chapter 7.D, Problem 24E

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Chapter 7 Solutions

Using & Understanding Mathematics, Books a la Carte edition (7th Edition)

Ch. 7.A - Suppose you toss one coin three times in a row and...Ch. 7.A - During the course of the basketball season, Shawna...Ch. 7.A - A box contains 20 chocolates, but only 2 of them...Ch. 7.A - Suppose the probability of winning a certain prize...Ch. 7.A - When you toss one coin, the probability that...Ch. 7.A - On a roll of two dice, Serena bets that the sum...Ch. 7.A - Suppose you toss four 6-sided dice. How many...Ch. 7.A - Suppose you toss four 6-sided dice. How many...Ch. 7.A - You are playing 5-card poker with a deck of 52...Ch. 7.A - The odds on (or odds against) TripleTreat winning...

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