Suppose a life insurance company sells a $240,000 one-year term life insurance policy to a 19-year-old female for $240. The probability that the female survives the year is 0.999578. Compute and interpret the expected value of this policy to the insurance company. The expected value is $ (Round two decimal places as needed.)

Question

Candyland1994 Candyland1994

06-07-2021
Mathematics

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Suppose a life insurance company sells a $240,000 one-year term life insurance policy to a 19-year-old female for $240. The probability that the female survives the year is 0.999578. Compute and interpret the expected value of this policy to the insurance company. The expected value is $ (Round two decimal places as needed.)

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