What is the probability that a male age sixty will die

Assignment Help Basic Statistics

Reference no: EM131001944

Two actuaries, A and B, agree that the probability that a female age 60 will die within 10 years is 0.36.

(a) Actuary A decides that the force of mortality for male lives is 1.5 times the force of mortality for females lives, at all ages over 60. What is the probability that a male age 60 will die within 10 years, under A's assumption?

(b) Actuary B disagrees and decides that the force of mortality for males lives is obtained by adding a constant of 0.01 to the force of mortality for female lives, at all ages over 60. What is the probability that a male age 60 will die within 10 years under B's assumption?

Reference no: EM131001944

Questions Cloud

Differences in the monetary benefits : In Michigan, unemployment benefits range from $81 to $362 per week, while in Colorado, benefits range from $25 to $502 per week, and in Washington, these benefits can vary between $158 and $664 per week. In addition to differences in the monetary ben..

Typical firm in a monopolistically competitive market : The typical firm in a monopolistically competitive market does not earn long-run economic profit. Does that fact make it economically efficient? Explain why the firm will not able to earn long-run economic profit.

Benefits and drawbacks of using the various current value : What are the benefits and drawbacks of using the various current value measurement techniques for elements of the financial statements? How would the use of one or more non-Historical Cost techniques influence relevance and faithful representation..

Spends more on rent-seeking activities than consumers : Which of the following explains why big business typically spends more on rent-seeking activities than consumers?

What is the probability that a male age sixty will die : Actuary A decides that the force of mortality for male lives is 1.5 times the force of mortality for females lives, at all ages over 60. What is the probability that a male age 60 will die within 10 years, under A's assumption?

About theory of industrial organization : One of these firms is considering opening up a new product line, in a market in which it would be the only firm. So, adjusting the notation to now capture demand in the monopolistically competitive industry with Q1(p1) = 140 − p1, and the demand it w..

Using cane sugar or corn syrup as sweeteners : Suppose that soda producers can choose between using cane sugar or corn syrup as sweeteners. If the price of corn syrup rises, what impact would you expect this to have on the demand for cane sugar? Briefly explain. If the price of cane sugar rises, ..

Where is a good place to look or seek advice : If you need help with APA citations, where is a good place to look/seek advice

Determine the free trade equilibrium : Suppose that workers involved in manufacturing are paid less than all other workers in the economy. What would be the effect on the real income distributionwithin the economy if there were a substantial tariff levied on manufactured goods?

User Account

All Pages