There is a 0.9988 probability that a randomly selected 31-year-old male lives through the year. A life insurance company charges $195 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $110,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 31-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 31-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?

K 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.)

When it is sunny, Joe's ice cream truck generates a profit of $547 per day, when it is not sunny, the profit is $250 per day, and when the truck is not out there selling ice cream, Joe loses $120 per day. Suppose 8% of a year Joe's truck is on vacation, and 86% of a year the truck is selling ice cream on sunny days, what is the expected daily profit the truck generates over a year? Enter answer as a decimal rounded to TWO digits after the decimal point.

Insurance A 65-year-old woman takes out a $100,000 term life insurance policy. The company charges an an-nual premium of $520. Estimate the company’s expected profit on such policies if mortality tables indicate thatonly 2.6% of women age 65 die within a year.

A paper included analysis of data from a national sample of 1,000 Americans. One question on the survey is given below. "You owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or 1% per month), how many years would it take to eliminate your credit card debt if you made no additional charges?" Answer options for this question were: (a) less than 5 years; (b) between 5 and 10 years; (c) between 10 and 15 years; (d) never-you will continue to be in debt; (e) don't know; and (f) prefer not to answer. A USE SALT (a) Only 355 of the 1,000 respondents chose the correct answer of "never." Assume that the sample is representative of adult Americans. Is there convincing evidence that the proportion of adult Americans who can answer this question correctly is less than 0.40 (40%)? Use the five-step process for hypothesis testing (HMC3) described in this section and a = 0.05 to test the appropriate hypotheses. (Hint: See Example…

There is a 0.9991 probability that a randomly selected 33-year-old male lives through the year. A life insurance company charges $166 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 33-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 33-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? because the insurance company expects to make an average profit of $ on every 33-year-old male it insures for 1 year. (Round to the nearest cent as needed.)

Round to the nearest cent

There is a 0.9986 probability that a randomly selected 27​-year-old male lives through the year. A life insurance company charges ​$157 for insuring that the male will live through the year. If the male does not survive the​ year, the policy pays out ​$80,000 as a death benefit. Complete parts​ (a) through​ (c) below. a. From the perspective of the 27​-year-old ​male, what are the monetary values corresponding to the two events of surviving the year and not​ surviving?   The value corresponding to surviving the year is ​$nothing. The value corresponding to not surviving the year is ​$nothing. ​(Type integers or decimals. Do not​ round.) b. If the 27​-year-old male purchases the​ policy, what is his expected​ value?   The expected value is ​$nothing. ​(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 ​$nothing on every 27-year-old male it…

There is a 0.9987 probability that a randomly selected 32-year-old male lives through the year. A life insurance company charges $197 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 S The value corresponding to not surviving the year is $ (Type integers or decimals. Do not round.)

Jay and Charles, two equally talented athletes, expect to compete in the upcoming Swimming match in the 200-meter freestyle. Each of them is trying to decide how many hours to train each week for the first race. We will use the Tullock model to describe their behavior. For each athlete, winning is worth 120 hours per week, so we measure the prize as 120 hours. The cost of an hour of effort is, of course, an hour. Suppose that Jay plans to train 10 hours per week, and Charles plans to train 20 hours per week. Question 1 What is the probability that Jay wins the race? O 1/4 O 1/3 1/2 O 2/3