MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
14??
olve the problem by finding the Expected Value. (Round to 2 decimal places) 14) A life insurance company sells life insurance polices for $600 per year. The payout if a customer dies is $150,000 Suppose that a 50-year old person has a 0.39% chance of dying within the next year. a) Find the Expected Value for the customer for each policy purchased for the year. b) Find the Expected Value for the insurance company for each policy sold for the year.
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Transcribed Image Text:olve the problem by finding the Expected Value. (Round to 2 decimal places) 14) A life insurance company sells life insurance polices for $600 per year. The payout if a customer dies is $150,000 Suppose that a 50-year old person has a 0.39% chance of dying within the next year. a) Find the Expected Value for the customer for each policy purchased for the year. b) Find the Expected Value for the insurance company for each policy sold for the year.
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