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Title: A 25 year old can purchase a one-year life insurance policy for $10,000 at a cost of $100. Past ... Post by: msouthern on Feb 2, 2020 Question 1. An architect is considering bidding for the design of a new shopping mall. The cost of drawing plans and submitting a model is $10,000. The probability of being awarded the bid is 0.12, and anticipated profits are $100,000, resulting in a possible gain of this amount minus the $10,000 cost for plans and a model. What is the expected value in this situation?▸ $12,000 ▸ $10,800 ▸ $2000 ▸ $11,000 Question 2. A 25 year old can purchase a one-year life insurance policy for $10,000 at a cost of $100. Past history indicates that the probability of a person dying at age 25 is 0.0015. Determine the company's expected gain per policy.▸ 85 ▸ 15 ▸ 985 ▸ 115 Title: A 25 year old can purchase a one-year life insurance policy for $10,000 at a cost of $100. Past ... Post by: rinderbik on Feb 2, 2020 Content hidden
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