Data Interview Qs - Pricing a life insurance product
Pricing a life insurance product
Statistics Probability Theory Expected Value
Suppose you're working for a life insurance company that is trying to price a one year policy for a 24-year old male.
If the individual has a .99972 probability of surviving the year, and the payout is $300,000, what should the company price the policy at if they want to target an expected value of $150?
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