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

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Definitions:

Superiority

The condition or quality of being superior or having a higher status, ability, or quality compared to others.

Humanistic Perspective

A psychological approach that emphasizes the study of the whole person and the inherent goodness and personal growth potential of individuals.

Personality

The combination of characteristics or qualities that form an individual's distinctive character and patterns of thoughts, feelings, and behavior.

Personal Growth

Personal growth refers to the process of improving self-awareness, knowledge, skills, and overall well-being.