SOLUTION: Any help is greatly appreciated. Thanks! Brooks Insurance Inc. wishes to offer life insurance to men age 60 via the internet. Mortality tables indicate the likelihood of a 60 year

Algebra ->  Probability-and-statistics -> SOLUTION: Any help is greatly appreciated. Thanks! Brooks Insurance Inc. wishes to offer life insurance to men age 60 via the internet. Mortality tables indicate the likelihood of a 60 year      Log On


   

Question 425917: Any help is greatly appreciated. Thanks!
Brooks Insurance Inc. wishes to offer life insurance to men age 60 via the internet. Mortality tables indicate the likelihood of a 60 year old man surviving another year is .98. If the policy is offered to five men age 60.
a)what is the probability all 5 men survive the year?
b)what is the probability at least one man does not survive?
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
probability of each man surviving another year is .98

probability of all 5 men surviving another year is.98^5 = .903920797

probability at least 1 man does not survive = 1 - .90392079 = .096079203

p(a and b and c and d and e) = p(a) * p(b) * p(c) * p(d) * p(e)

if p(something happening) = x, then p(something not happening) = 1-x.

that something either happens or it doesn't happen, and the sum of all the probabilities is always equal to 1.

if x = all 5 survive, then not x means not all survive.

not all survived means that at least 1 or them has not survived.

p(not x) = 1 - p(x)