A man purchased a $23,000, 1-year term-life insurance policy for$375. Assuming that the probability that he will live for anotheryear is 0.989, find the company's expected gain.
At the beginning of 2007, the population of a certain state was55.4% rural and 44.6% urban. Based on past trends, it is expectedthat 13% of the population currently residing in the rural areaswill move into the urban areas, while 21% of the populationcurrently residing in the urban areas will move into the ruralareas in the next decade. What was the population distribution inthat state at the beginning of 2017? (Round your answers to onedecimal place.)
In a study of the domestic market share of the three majorautomobile manufacturers A, B, and C ina certain country, it was found that their current market shareswere 50%, 20%, and 30%, respectively. Furthermore, it was foundthat of the customers who bought a car manufactured by A,75% would again buy a car manufactured by A, 15% would buya car manufactured by B, and 10% would buy a carmanufactured by C. Of the customers who bought a carmanufactured by B, 90% would again buy a car manufacturedby B, whereas 5% each would buy cars manufactured byA and C. Finally, of the customers who bought acar manufactured by C, 85% would again buy a carmanufactured by C, 5% would buy a car manufactured byA, and 10% would buy a car manufactured by B.Assuming that these sentiments reflect the buying habits ofcustomers in the future, determine the market share that will beheld by each manufacturer after the next two model years. (Roundyour answers to the nearest percent.)
