I have some questions about finance ( insurance ) and I want you help me to answ
ID: 3361266 • Letter: I
Question
I have some questions about finance ( insurance ) and I want you help me to answer them by showing me your work.
please show me how you get the answer. I need the answers as soon as posible
here is the questions
-the mortality table for male is shown as following
age
lx
dx
90
645,788
143,216
91
502,572
119,100
92
383,472
97,197
93
286,281
77,900
94
208,381
61,660
95
146721
48,412
Please use the above mortality table and show your work to answer the following questions
16) What is the probability of a 90 age male dying before he turns 91?
A) 0.22177
B) 0.28497
C) 0.23698
D) 0.18443
17) What is the probability of a 90 age male survives next year ( i.e. survive his 91st beithday)?
A) 0.22177
b) 0.18443
c) 0.77823
d) 0.81557
18) What is the probability of a 90 age male survives his 94th birthday?
A) 0.29590
b) 0.32268
c) 0.67732
d) 0.70410
19) What is the probability of a 90 age male dying during age 94( i.e. the period between the 94th and 95th birthday)?
A) 0.09548
b) 0.29590
c) 0.70410
d) 0.90452
20) What is the probability of a 90 age male dying before he turns 94?
A) 0.70410
B) 0.32268
C) 0.67732
D) 0.70410
please show me how you calculat the answer I dont know how to calclate them
age
lx
dx
90
645,788
143,216
91
502,572
119,100
92
383,472
97,197
93
286,281
77,900
94
208,381
61,660
95
146721
48,412
Explanation / Answer
Here, dx = lx- lx+1
16) Prob 90 year old die before age 91 = (lives at 91 - lives at 90)/lives at 90
i.e. d90/l90 = 143216/645788 = 0.22177 (option a)
17) Probability of survival of 90 year age male till next year = 1- Probability of death of 90 year age male till next year
= 1-0.22177 = 0.77823 (option c)
18) P(90 age age male suvives his 94th birthday) = 1- 4q90
= 1- (l90 - l94)/ l90 = 1-(645788-208381)/645788 = 0.32268 (option b)
19) P(90 age male dying during 94) = (probability he survives to age 94)*(probability die between age 94 to 95)
= (1- probability of death from age 90 to 94)*(probability die between age 94 to 95)
=0.32268*(61660/208381) = 0.09548 (option a)
20) P(90 age male dying before he turns 94) = 1- 0.32268 = 0.67732