You are considering taking a life insurance policy out on your spouse. Callously

Question

You are considering taking a life insurance policy out on your spouse. Callously, but lovingly, you analyze the following while picking out your policy: the average lifespan is 75 (s = 12, n = 100). What is the likelihood of someone not making 37 years of age? This is a pretty marketable age for a widow(er). What is the likelihood of passing between the ages of 85 and 95? Perhaps not as remarriable as in the above. It may be time for a gold digger to while away the last couple of years (months?), but sign a prenup and make sure it's love!

Explanation / Answer

here as we knowe that z=(X-mean)/std deviation

a) P(X<37)=P(Z<(37-75)/12) =P(Z<-3.1667)=0.0008

b) P(85<X<95) =P(0.8333<Z<1.6667)=0.9522-0.7977=0.1545

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