Answer:
Avicenna can expect to lose money from offering these policies. In the long run, they should expect to lose ___33__ dollars on each policy sold
Step-by-step explanation:
Given :
The amount the company Avicenna must pay to the shareholder if the person die before 70 years = $ 26,500
The value of each policy = $497
It is given that there is a 2% chance that people will die before 70 years and 98% chance that people will live till the age 70.
The expected policy to be sold= policy nominal + chances of death
= 497 + [98% (no pay) + 2% (pay)]
= 497 + [98%(0) + 2%(-26500)]
(The negative sign shows that money goes out of the company)
= 497 - 2% (26500)
= 497 - 530
=33
Therefore the company loses 33 dollar on each policy sold in the long run.
Answer:
36
Step-by-step explanation:
<span>1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
One die can show the values 1-6, while the other die can only show 0 or 6. So the possible totals are 1 through 6 plus 0 and 1 through 6 plus 6. Written out, one-by-one, this gives:
1+0 = 1
2+0 = 2
3+0 = 3
4+0 = 4
5+0 = 5
6+0 = 6
1+6 = 7
2+6 = 8
3+6 = 9
4+6 = 10
5+6 = 11
6+6 = 12</span>
B
For example, if x is 2 you times it by -1/2 and get -1, add that to 11, and you get your Y which is 10
