A 25-year-old can purchase a one-year life insurance policy for $10,000 at a cost of
Chapter 11, Problem 8(choose chapter or problem)
A 25-year-old can purchase a one-year life insurance policy for $10,000 at a cost of $100. Past history indicates that the probability of a person dying at age 25 is 0.002. Determine the companys expected gain per policy.
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