Probability Math Question

Sigchi4life
Category:
Mathematics
Price: $5 USD

Question description

An insurance company says that at age 50 one must choose to take $10,000 at age 60, $30,000 at 70, or $50,000 at 80 ($0 death benefit). The probability of living from 50 to 60 is 0.84, from 50 to 70, 0.64, and from 50 to 80, 0.44. Find the expected value at each age.

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(Top Tutor) Daniel C.
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