Solve the problem.
-At age 50, Ann must choose between taking $\$ 19,000$ at age 60 if she is alive then, or $\$ 28,000$ at age 70 if she is alive then. The probability for a person aged 50 living to be 60 and 70 is .88 and . 63 , respectively. Using expected value, what is Ann's best option?
A) $\$ 19,000$ at age 60
B) $\$ 28,000$ at age 70

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-At age 50, Ann must choose between taking $\$ 19,000$ at age 60 if she is alive then, or $\$ 28,000$ at age 70 if she is alive then. The probability for a person aged 50 living to be 60 and 70 is .88 and . 63 , respectively. Using expected value, what is Ann's best option?
A) $\$ 19,000$ at age 60
B) $\$ 28,000$ at age 70

Solve the Problem $19,000\$ 19,000$19,000 At Age 60 If She Is Alive Then, Or

Solve the Problem $\$ 19,000$ At Age 60 If She Is Alive Then, Or