According to an insurance company, the probability that a woman will survive one year is 0.992, and the probability tha
Posted: Wed May 11, 2022 5:12 pm
According to an insurance company, the probability that a
woman will survive one year is
0.992, and the probability that she will die in one year is
0.008. If she buys a $10,000 one-year term policy
for $100,
what is the company's expected gain or loss?
What can the company expect?
A. Gain of $20.00
B. Loss of $20.00
C. No gain or loss
woman will survive one year is
0.992, and the probability that she will die in one year is
0.008. If she buys a $10,000 one-year term policy
for $100,
what is the company's expected gain or loss?
What can the company expect?
A. Gain of $20.00
B. Loss of $20.00
C. No gain or loss