Thursday

August 21, 2014

August 21, 2014

Posted by **Liz** on Monday, April 30, 2007 at 11:20am.

Roll a fair 6 sided die 3 itmes. What is the probablity that you obtain at least one 5? Use the binomial.

A 28 yr old man pays $208 for a 1 year life insurance policy with coverage of $110,000. If the probability that he will live through the year is .9993, what is the expected value of the policy?

207.85

77

131

109.923

667.32

if its 364.25 days in a year then each day would be 301.99, and .9993 of 1 year would be 363.99

so 301.99 x 363.99 = 109,921.35

so im guessing the 109.923 would be the correcdt answer... unless im going about solving this problem wrong...

1) The probability of NOT getting a five on a single roll is 5/6. The probability of NOT getting a five on 3 rolls is (5/6)^3 = .5787. Sooo, the probability of getting at least 1 five is 1-.5787 = 4213.

2) The probability of dying is .0007 The payoff from dying is 110,000. Sooo, the expected value of the policy, regardless of the price paid, is .0007*110000 = 77.

(n+1)!/(n-2)!

**Related Questions**

statistics - your teacher has invented a fair dice game to play. your teacher ...

probability - We have two fair three-sided dice, indexed by i=1,2. Each die has ...

help!!!!! Probability!!! - A fair 6-sided die is rolled twice. The probability ...

Probability - Roll two fair dice. what is the probability that you get a 2 and a...

math - Consider a simple game in which you will roll a six-sided die and receive...

Probability - Find the probablity of getting a sum of at least 8 by tossing a ...

statistics - Use of normal distribution to approximate the desired probability. ...

Statistics - You have a fair die. The die has a 2 on two sides, a 4 on two sides...

Statistics and Probability - One six-sided fair die is rolled, and one two-sided...

math - The game called dots is played by rolling a fair die and receiving 1$ for...