A company that sells annuities must base the annual payout on the probability distribution of the length of life of the

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A Company That Sells Annuities Must Base The Annual Payout On The Probability Distribution Of The Length Of Life Of The 1 (44.1 KiB) Viewed 17 times

A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. 1. What proportion of the plan recipients would receive payments beyond age 75? 2. What proportion of the plan recipients die before they reach the standard retirement age of 65? 3. Find the age at which payments have ceased for approximately 86% of the plan participants (meaning they are no longer with us). Enter the correct answers in order in the boxes below. Enter all probability solutions in decimal form rounded to 4 decimal places. Enter all Inverse probability solutions in decimal form rounded to 2 decimal places (these are x- values). Blank # 1 Blank # 2 Blank # 3 N N