801 8 (6 complete) Score: 0 of 1 pt 5.1.29 HW Score: 78 81%, 11.03 of 14 pts Ass

Question

801 8 (6 complete) Score: 0 of 1 pt 5.1.29 HW Score: 78 81%, 11.03 of 14 pts Assigned Media Question Help 5 probability that a randomly selected 33-year-old male ives through the year. A lfe insurance company charges $153 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $90,000 as a death benefit. Complete parts (a) through (c) below a. From tha perspective of the 33 year okl male, what are the monetary values corresponding to the two events of surviving the year and not surviving The value corresponding to surviving the year is $ 152,7705 The value corresponding to not surviving the year is $ 135 (Type integers or decimals. Do not round) 1) 1) Enter your answer in the edit fields and then click Check Answer. Clear All Check Answer ath 2050-011SU 18 Online) is based on Triola: Elementary Statistics, 13e

Explanation / Answer

(a)

If male survive one year, the value person has to pay $153 to insurance company. In that case the loss of the person is -$153.

If male will not survive one year, the value person's nominee will get $90000 - $153 = $89847.  In that case the profit made by person is $89847.

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