From this 2006 thread:
Suppose a life insurance company sells a $240,000 one year term life insurance policy to a 25-year old female for $210. The probability that the female survives the year is .999592.
Compute the expected value of this policy to the insurance company.
...I'm lost on what my P(X=x) value will be.
I am struggling with a similar problem. How did you get (0.000408)\(\displaystyle \left( {\$ 210} \right)\left( {0.999592} \right) - \left( {\$ 239790} \right)\left( {0.000408} \right)\)
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