Math 472 HW 8 Solutions - MATH 472/567 Actuarial Theory...

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MATH 472/567: Actuarial Theory II/Topics in Actuarial Theory I Homework #8: Spring 2011 Assigned March 16, due April 6 1. Consider two independent lives (35) and (45). Each life has mortality that follows the Illustrative Life Table. (a) Calculate the probability that both lives will survive the next ten years. (0.9172) (b) Calculate the probability that (35) will survive the next ten years and (45) will not survive the next ten years. (0.0555) (c) Calculate the probability that exactly one of the two lives will die in the next ten years. (0.0812) 2. Consider (x) and (y), with independent future lifetimes and constant forces of mortality equal to 0.03 and 0.05, respectively. (a) Calculate the probability that both (x) and (y) will survive the next 20 years. (0.2019) (b) Calculate the expected time until the first death of (x) and (y). (12.5) (c) Calculate the probability that the first death of (x) and (y) occurs in the tenth year from now. (0.0374) 3. For a population of smokers and non-smokers:
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Math 472 HW 8 Solutions - MATH 472/567 Actuarial Theory...

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