Yahoo Answers: Answers and Comments for The probability that an 80yearold male in the U.S. will die within one year is approximately 0.069941.? [Mathematics]
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From Denise
enUS
Tue, 25 Jun 2019 22:39:50 +0000
3
Yahoo Answers: Answers and Comments for The probability that an 80yearold male in the U.S. will die within one year is approximately 0.069941.? [Mathematics]
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https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
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From SumDude: That the man will not die (considering you are...
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
Wed, 26 Jun 2019 07:32:23 +0000
That the man will not die (considering you are working with only 1 individual).

From Mike G: E(X) = 4950.069941*14,000
= $484.17
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
Wed, 26 Jun 2019 00:19:01 +0000
E(X) = 4950.069941*14,000
= $484.17

From llaffer: If the probability of death within the year is...
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https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
Tue, 25 Jun 2019 22:46:08 +0000
If the probability of death within the year is 0.069941, then the probability of the male being alive at the end of the year is 0.930059.
In the event there is no death, the company has no payout so only has the $495 revenue. Multiply the revenue by the probability to get that value:
495 * 0.930059 = 460.379205
In the event of the death, they have the $495 in revenue and the payout of $14,000. This results in a loss of $13,505. Multiply this by the probability to get that value:
13505 * 0.069941 = 944.553205
Add the two numbers together to get the company's expected outcome:
460.379205  944.553205 = 484.174
Rounded to two DP we get an expected loss of $484.17.

From alex: 495(10.069941)14000(0.069941) = 519.79
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
Tue, 25 Jun 2019 22:44:29 +0000
495(10.069941)14000(0.069941) = 519.79

From RealPro: 495  14,000*0.069941 dollars
Two decimal plac...
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https://answers.yahoo.com/question/index?qid=20190625223950AAW9gQt
Tue, 25 Jun 2019 22:43:09 +0000
495  14,000*0.069941 dollars
Two decimal places of what?