Find the indicated mean. An insurance company in the town of Codrington sellslif

Question

Find the indicated mean.

An insurance company in the town of Codrington sellslife insurance. They are determining the premium for a $100,000life insurance for a 50-year old woman. The probability that a50-year old woman in Codrington survives the year is 0.9970. Thecompany sells 1100 such policies to 50-year old females. Thecompany will use the Poisson distribution to approximate theprobability of various number of deaths during the year in thisgroup of 1100 women. Find the mean of the appropriate Poissondistribution (the mean number of deaths in a year in such groups of1100 females). Round your answer to the nearest hundredth.



a. 33

b. 3.3

c. 0.33

d. 1096.7

Explanation / Answer

n = 1100, p = 0.003 Let X = # of deaths. X ~ Pois( = np = 1100*0.003 = 3.3)
E(X) = 3.3 Part b is the answer. Hope this helps, Mike Part b is the answer. Hope this helps, Mike

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