People in a certain group have a 0.60 % chance of dying this year. If a person in this group buys a life insurance policy for $5500 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of the policy?
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Home » Business » People in a certain group have a 0.60 % chance of dying this year. If a person in this group buys a life insurance policy for $5500 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of the policy?