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Out of 15 for 3% of the overall grade Assignment#3 Name: 1) Sunshine Insurance offers life insurance to men ane AN
1) Sunshine Insurance offers life insurance to men age 80. Mortality tables indicate the likelihood of a 80-year-old man surv
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Answer #1

Here P(80 year old surviving another year) = 0.94

Total men = 8 (As given in part (a))

(a) P(All eight men survive this year) = 0.948 = 0.6096

(b) P(At least one survives) = 1- P(No one survives) = 1- (1 - 0.94)8 = 1 - 0.000000001 = 0.999999 (around 1)

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