The Following Table Is from the Social Security Actuarial Tables

question 11

Short Answer

The following table is from the Social Security Actuarial Tables. For each age, it gives the probability of death within one year, the number living out of an original 100,000, and the additional life expectancy for a person of that age.
Exact Male Female P(Death Additional P(Death Additional Age
$\begin{array}{c}\quad\quad\quad\text { Male } \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Female }\\\begin{array}{|c|c|c|c|c|c|c|}\hline{\text {Exact Age }} & \begin{array}{c}\text { P(Death } \\\text { within one } \\\text { year) }\end{array} & \begin{array}{c}\text { Number of } \\\text { Living }\end{array} & \begin{array}{c}\text { Additional } \\\text { Life } \\\text { Expectancy }\end{array} & \begin{array}{c}\text { P(Death } \\\text { within one } \\\text { year) }\end{array} & \begin{array}{c}\text { Number of } \\\text { Living }\end{array} & \begin{array}{c}\text { Additional } \\\text { Life } \\\text { Expectancy }\end{array} \\\hline 10 & 0.000111 & 99,021 & 65.13 & 0.000105 & 99,217 & 70.22 \\\hline 20 & 0.001287 & 98,451 & 55.46 & 0.000469 & 98,950 & 60.40 \\\hline 30 & 0.001375 & 97,113 & 46.16 & 0.000627 & 98,431 & 50.69 \\\hline 40 & 0.002542 & 95,427 & 36.88 & 0.001498 & 97,513 & 41.11 \\\hline 50 & 0.005696 & 91,853 & 28.09 & 0.003240 & 95,378 & 31.91 \\\hline 60 & 0.012263 & 84,692 & 20.00 & 0.007740 & 90,847 & 23.21 \\\hline 70 & 0.028904 & 70,214 & 12.98 & 0.018938 & 80,583 & 15.45 \\\hline 80 & 0.071687 & 44,272 & 7.43 & 0.049527 & 59,341 & 9.00 \\\hline 90 & 0.188644 & 12,868 & 3.68 & 0.146696 & 24,331 & 4.45 \\\hline\end{array}\end{array}$ To what age may a male of age 50 expect to live on the average?

---

Definitions:

Eliminated

Removed or taken away, often used in the context of erasing a component or aspect in various fields such as finance, science, or competition.

Book Value

The net value of a company's assets as recorded on the balance sheet, minus its liabilities and the par value of any outstanding shares.

Opportunity Cost

Opportunity cost is the value of the next best alternative foregone as the result of making a decision.

Variable Costs

Payments that are contingent on the amount of production or the scope of sales, covering expenditures like materials and labor.