A 28-Year-Old Man Pays $125 for a One-Year Life Insurance

question 56

Multiple Choice

A 28-year-old man pays $125 for a one-year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.9994, to the nearest dollar, what is the man's expected value for the insurance policy?

• A) $139,916
• B) ?$41
• C) $84
• D) ?$124

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Definitions:

Task-oriented Behavior

A style of leadership or group interaction focused primarily on the accomplishment of tasks and goals.

Explanatory Mediating Variables

Factors or mechanisms that help to explain the relationship between two variables, often used to clarify how or why certain effects occur.

Leader Behaviors

Refers to the actions and conduct displayed by leaders, encompassing various styles and strategies used to influence, motivate, and guide followers towards achieving goals.

Time Management

The process of organizing and planning how to allocate one's time between specific activities efficiently.