It is estimated that there are 27 deaths for every 10 million people who use airplanes
Chapter 11, Problem 7(choose chapter or problem)
It is estimated that there are 27 deaths for every 10 million people who use airplanes. A company that sells flight insurance provides $100,000 in case of death in a plane crash. A policy can be purchased for $1. Calculate the expected value and thereby determine how much the insurance company can make over the long run for each policy that it sells.
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