If a 60 year old buys a $1000 life insurance policy at a cost of $50 and has a probability of 0.954 of living to age 61 find the
1 answer:
Answer:
The expectation of the policy until the person reaches 61 is of -$4.
Step-by-step explanation:
We have these following probabilities:
0.954 probability of a loss of $50.
1 - 0.954 = 0.046 probability of "earning" 1000 - 50 = $950.
Find the expectation of the policy until the person reaches 61.
Each outcome multiplied by it's probability, so:
The expectation of the policy until the person reaches 61 is of -$4.
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Answer:
use f(x)=y=mx+b
let snow = S, time = t instead of y and x
S(t)=mt+b
The rate of inches per hour represents the slope of the graph, m.
The y-variable would be the amount of snow, S.
The x-variable would be the time, t, in hours.
The function has three pieces:
i) S(t)= 2t (slope = 2)
ii) S(t) = 3t (slope = 3)
iii) S(t) = 0.75t (slope = 0.75)
For the first piece, i), t=3, so the amount of snow is 6 inches.
For the second piece, ii) t=5, so the amount of snow is 15 inches.
For the third piece, iii) t=1, so the amount of snow is 0.75 inch.
In total, it snowed 21.75 inches.
total snow
