Discuss the below:
Q: The following table is from the Social Security Actuarial Tables. For each age, it gives the probability of death within one year, the number of living out of an original 100,000 and the additional life expectancy for a person of that age. Determine the following using the table:
a. To what age may a female of age 60 expected to live on the average? To what age is a male of age 70 expected to live on average?
b. How many 60-year old females on average will be living at age 61? How many 70-year old males on average will be living at age 71?
MALES FEMALES
Age P(Death within one year) Number of Living Life Expectancy P(Death within one year) Number of Living Life Expectancy
10 0.000111 99,021 65.13 0.000105 99,217 70.22
20 0.001287 98,451 55.46 0.000469 98,950 60.40
30 0.001375 97,113 46.16 0.000627 98,431 50.69
40 0.002542 95,427 36.88 0.001498 97,513 41.11
50 0.005696 91,853 28.09 0.003240 95,378 31.91
60 0.012263 84,692 20.00 0.007740 90,847 23.21
70 0.028904 70,214 12.98 0.018938 80,583 15.45
80 0.071687 44,272 7.43 0.049527 594,31 9.00
90 0.188644 12,862 3.68 0.146696 24,331 4.45