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Posted: December 20th, 2021

Probability Assignment

The probability that a randomly selected 40-year-old male will live to 41 years old is 0.99718 and the probability that a randomly selected 40-year-old female will live to 41 years old is 0.99856 (National Vital Statistics Report, Vol. 48, No. 18)

Question 1. A life insurance company has sold insurance policies to 100 40-year-old males. What is the probability that at least one of these males will not live to be 41 years old? Assume that deaths of 40-year-old males are independent. (use 3 decimal places in your answer)

Question 2. A life insurance company has sold insurance policies to 100 40-year-old females. What is the probability that at least one of these females will not live to be 41 years old? Assume that deaths of 40-year-old females are independent. (use 3 decimal places in your answer)

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