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Author Question: A store specializing in electronics is to open in one of two malls. If the first mall is selected, ... (Read 500 times)

Metfan725

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Question 1

A 25 year old can purchase a one-year life insurance policy for $10,000 at a cost of $100.  Past history indicates that the probability of a person dying at age 25 is 0.0015.  Determine the company's expected gain per policy.
◦ 85
◦ 15
◦ 985
◦ 115

Question 2

A store specializing in electronics is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of if successful and a yearly loss of 70,000 otherwise.  The probability of success is .  If the second mall is selected, it is estimated that the yearly profit will be if successful; otherwise, the annual loss will be . The probability of success at the second mall is . What is the expected profit at each of the two malls?
◦ first mall: $172,500; second mall: $87,500
◦ first mall: $155,000; second mall: $87,500
◦ first mall: $172,500; second mall: $135,000
◦ first mall: $155,000; second mall: $135,000


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Marked as best answer by Metfan725 on Feb 2, 2020

Carissamariew

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Metfan725

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Reply 2 on: Feb 2, 2020
Excellent


aruss1303

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Reply 3 on: Yesterday
Wow, this really help

 

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