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Compute and interpret the expected value of policy

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Suppose a life insurance company sells a $160,000 one-year term life insurance policy to a 22-year-old female for $260. The probability that the female survives the year is 0.999457. Compute and interpret the expected value of this policy to the insurance company. The expected value is $:|. (Round to two decimal places as needed.)

Reference no: EM132908746

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