People in a Certain Group Have a 0

question 93

Multiple Choice

People in a certain group have a 0.3% chance of dying this year.If a person in this group buys a life insurance policy for $3,300 that pays $1,000,000 to her family if she dies this year and $0 otherwise,what is the expected value of a policy to the insurance company?

• A) $0
• B) $300
• C) $3,000
• D) $3,300

---

Definitions:

Test-Retest Reliability

The consistency of measurements or scores when the same test is administered to the same participants under the same conditions at different times.

True Scores

Theoretical values that accurately reflect the actual attribute or ability measured, devoid of any measurement error or bias.

Observed Scores

The actual scores or data collected from research participants during a study.

Reliability Coefficients

Statistics that measure the consistency or stability of scores from a test or measurement tool over time.