An insurance company will sell a 10000 one-year term life, Basic Statistics

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An insurance company will sell a 10000 one-year term life

Question: An insurance company will sell a $10,000 one-year term life insurance policy to an individual in a particular risk group for a premium of $368. Find the expected value to the company of a single policy if a person in this risk group has a 97.25% chance of surviving one year.

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Basic Statistics: An insurance company will sell a 10000 one-year term life

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