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Compute and interpret the expected value

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Suppose a life insurance company sells a $250,000 one-year term life insurance policy to a 50-year-old male for $1,900. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the male survives the year is 0.99433. Compute and interpret the expected value of this policy to the insurance company.

Reference no: EM131159963

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Compute and interpret the expected value : Suppose a life insurance company sells a $250,000 one-year term life insurance policy to a 50-year-old male for $1,900. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the male survives the year is 0.99433. Comp..
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