16 An insurance company sells a one year term life insurance

Last updated: 6/21/2023

16 An insurance company sells a one year term life insurance policy to a 70 year old man The man pays a premium of 400 If he dies within one year the company will pay 10 000 to his beneficiary The probability that a 70 year old man is still alive one year later is 0 9715 Let X be the profit made by the insurance company Find the expected value of the profit