5 1 point A 28-year-old person pays $262 for a one-year life insurance policy with coverage of $128,347. If the probabil

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5 1 Point A 28 Year Old Person Pays 262 For A One Year Life Insurance Policy With Coverage Of 128 347 If The Probabil 1 (222.42 KiB) Viewed 13 times

5 1 point A 28-year-old person pays $262 for a one-year life insurance policy with coverage of $128,347. If the probability that the individual will live through the year is 0.9994, what is the expected value for the insurance policy? The table below summarizes the expected value. Round your answer to the nearest hundredth. 6 Coverage or Cost, x $128,347 -$262 Type your answer... Prize Amount, x $3,564 $1,440 $455 $242 - $8 Probability, P(x) Type your answer... 0.0006 1 point A travel softball team is trying to raise funds to go to the Colorado Sparkler, a major summer national tournament. The team is going to sell 3000 raffle tickets for $8 each. The prizes and their probabilities are summarized in the following table. What is the expected value for this for the prize amount for one entry? Round your answer to the nearest hundredth (since we're talking about dollars and cents). You might get a negative answer, if so, include the sign. Don't worry about the dollar sign. 0.9994 Probability of Winning, P(x) 1/3000 1/3000 2/3000 2/3000 2994/3000