SOLUTION: Suppose a life insurance company insures the lives or 4,000 women aged 50. If the
actuarial studies show the probability that any 50-year-old woman will die in a
given year to be
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-> SOLUTION: Suppose a life insurance company insures the lives or 4,000 women aged 50. If the
actuarial studies show the probability that any 50-year-old woman will die in a
given year to be
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Question 1175898: Suppose a life insurance company insures the lives or 4,000 women aged 50. If the
actuarial studies show the probability that any 50-year-old woman will die in a
given year to be 0.2%, find the exact probability that the company will have to
pay 5 claims during a given year.
this is statistic by the way Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! expected value of deaths is 4000*0.002=8
this is 4000C5*0.002^5*0.998^3995
probability=0.0916
