Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Feb 2018 My Price 4.00

thousands of policies

Life insurance. You might sell insurance to a 21-year-old friend. The probability that a man aged 21 will die in the next year is about 0.0015. You decide to charge $250 for a policy that will pay $100,000 if your friend dies.

(a) What is your expected profit on this policy?

(b) Although you expect to make a good profit, you would be foolish to sell your friend the policy. Why?

(c) A life insurance company that sells thousands of policies, on the other hand, would do very well selling policies on exactly these same terms. Explain why.

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Feb 2018 12:02 AM My Price 4.00

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