The Following Table Is from the Social Security Actuarial Tables

question 2

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 60 expect to live on the average?

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Definitions:

Satisfactory Alternatives

Acceptable options or solutions that are considered adequate for meeting a particular need or solving a problem, albeit not necessarily the best possible ones.

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The process of choosing the best possible solution or course of action from among various alternatives based on specific criteria and objectives.

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Involves anticipating risks and factoring them into decision making.

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A model that explains decision-making processes based on the psychological and behavioral responses of individuals.