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Mathematics, 18.12.2019 03:31 katdoesart65091
There is a 0.9991 probability that a randomly selected 31-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 $90 comma 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?
b. if the 31-year-old male purchases the policy, what is his expected value?
c. can the insurance company expect to make a profit from many such policies? why?
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