mpany chaiges $227 Iul a $30,C ice policy 1or a 30-year the year is 0.9969. Assume that the company sells 800 such policies to 50-year-old females, so it collects $181,600 in policy payments. The company will make a profit if fewer than four of the 800 women die during the year. a. What is the mean number of deaths in such groups of 800 females? b. Using a Poisson distribution, find the probability that the company makes a profit from the 800 policies. Is that probability high enough so tha the company is almost sure to make a profit? a. The mean number of deaths is. (Type an integer or a decimal.)

mpany chaiges $227 Iul a $30,C ice policy 1or a 30-year the year is 0.9969. Assume that the company sells 800 such policies to 50-year-old females, so it collects $181,600 in policy payments. The company will make a profit if fewer than four of the 800 women die during the year. a. What is the mean number of deaths in such groups of 800 females? b. Using a Poisson distribution, find the probability that the company makes a profit from the 800 policies. Is that probability high enough so tha the company is almost sure to make a profit? a. The mean number of deaths is. (Type an integer or a decimal.)

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...

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