Please show all work on this test or blank paper, including a sketch of the normal distribution when appropriate. This w

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Please Show All Work On This Test Or Blank Paper Including A Sketch Of The Normal Distribution When Appropriate This W 1 (62.58 KiB) Viewed 23 times

Please show all work on this test or blank paper, including a sketch of the normal distribution when appropriate. This will also allow me to provide partial credit. Please box your final answer(s) and round to four decimal places. Problems are worth 18 points cach unless indicated otherwise, p(1-P) H = np 0= np(1-P) My = u Mp =P 0p n 1. A life insurance company $100,000 one-year term life insurance policy for $1000. According to national data, the probability that a female survives the year is 0.9912. a) Construct the probability distribution for value of this policy to the insurance company X P(x) b) What is the expected value for this policy from the insurance company's point of view? What is the standard deviation? c) If 100 policies are sold, how much should the insurance company expect to earn or payout?