Finding the Likelihood of Survival of Different Clients

In this task, you will refer to these life tables published by the US government and find the probabilities of your eight potential clients surviving to the end of their policy periods. Make sure you use the appropriate life table for each individual.

Part A

What is the probability that Jacob, the newborn you’re considering for a 30-year policy, lives to be 30 years old? Jacob is a non-Hispanic white male, so look in table 14.

Part B

What is the probability that Carol, the 44-year-old you’re considering for a 20-year policy, lives to be 64 years old? Note that this is a conditional probability. Another way of saying this is, “What is the probability that Carol turns 64 years old given that she turns 44 years old?” Carol is a non-Hispanic black female, so look in table 18.

Part C

What is the probability that Geraldo, the 25-year-old you’re considering for a 30-year policy, lives to be 55 years old? Remember that Geraldo is a Hispanic male

Part D

What is the probability that Meg, the 39-year-old you’re considering for a 20-year policy, lives to be 59 years old? Meg is an Asian female, but there is no specific life table for Asian females; look in table 3, which is a general table for females.

Part E

What is the probability the Earvin, the 68-year-old you’re considering for a 10-year policy, lives to be 78 years old? Remember that Earvin is a non-Hispanic black male.