Answer:
The expected value for the person buying the insurance is of -$48.
Step-by-step explanation:
Expected value:
0.169% = 0.00169 probability of earning the death benefit of $100,000, subtracting 217, 100000 - 217 = $99,783.
100 - 0.169 = 99.831% = 0.99831 probability of losing $217.
What is the expected value for the person buying the insurance?

The expected value for the person buying the insurance is of -$48.
Answer:
Never
Step-by-step explanation:
- The first term (1st) and the fourth term (4th) of a proportion are called extreme terms or extremes, and the second term (2nd) and the third term (3rd) are called middle terms or means.
- Therefore, in a proportion, product of extremes = product of middle terms.
Answer:

Step-by-step explanation:
(a) Number of necklaces
3⁵/₈ = 3.625

(b) Value of gold in each necklace
There are 3.625 oz of 14K gold in each necklace. Pure gold is 24K.

Pure 24K gold is worth $1050/oz.
