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Hi All,
I was trying to help someone in a question for the actuary exam. I wonder if there is a mistake or whether I am missing something obvious here:
What is the age a 90-year old man can expect to live given the probability an x year old man will live until age x+1 is given by ## P(x+1|x )= \frac {x-89}{5} ##? We then compute p(91|90)90+...+p(94|93)94. But we don't have an answer sheet.
I assumed from the terms that the person is not expected to live beyond 94. Is this the way to do it or am I missing something
I was trying to help someone in a question for the actuary exam. I wonder if there is a mistake or whether I am missing something obvious here:
What is the age a 90-year old man can expect to live given the probability an x year old man will live until age x+1 is given by ## P(x+1|x )= \frac {x-89}{5} ##? We then compute p(91|90)90+...+p(94|93)94. But we don't have an answer sheet.
I assumed from the terms that the person is not expected to live beyond 94. Is this the way to do it or am I missing something