A 30-year-old man pays $230 for a one-year life insurance policy with coverage of $100,000. If the probability that he will live through the year is 0.9995. What is the expected value for the company for this insurance policy?     Group of answer choices a)-180 b)179.885 c)180 d)-179.885

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Q: The is the belief that a string of losses in the past will be compensated by wins in the future.…

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A: Expected value :- E(X) = ∑xP(x)

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Q: You're a small insurance company that insures 5000 people. Let's say that 1 house will catch on fire…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: Illustration 16.72. A bag contains 4 rupee, 10 one paise, 6 fifty paise coins and 3 twenty-five…

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Q: You have 8 ruppees to gamble with your best friend, with capital of 5 Ruppees. The probability of…

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Q: What is the probability that a sale will be made before the fourth sales call if the probability you…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A:

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: the sales manager knows that 36% of his clients do not pay their debts in full. He supposes that he…

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Q: If the probability that your DVD player breaks down before the extended warranty expires is 0.097,…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

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Q: Suppose you flip a fair coin twice. What is the probability that the outcome is the same both times?…

A: When we flip a coin toss twice then total number of possible outcomes are S = {HH, HT, TH, TT }

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Q: If a 60 year-old buys a $1000 life insurance policy at a cost of $70 and has a probability of 0.921…

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Q: An insurance company sells a $9,000, seven-year term life insurance policy to an individual for…

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.