The Doctrine of Life-Annuities And Assurances: Analytically Investigated ...
The Doctrine of Life-Annuities And Assurances: Analytically Investigated ...
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§ 371. To find the probability that a life or lives, of any given age, will continue in being to the end of any given term, according to any given table of observations.
SOLUTION.
In the case of a single life, this probability is a fraction whose denomi- nator is the number of persons living at the given age, and whose numerator is the number of persons living at an age older by the given term than the given age.
In the case of joint lives it is the product of the probabilities that each of the... single lives shall continue in being to the end of the given term.
See §§ 28 and 24.
Example 1. The probability that a person, whose age is 20, shall attain to the age of 50, or live thirty years, is, according to the observations of M. De Parcieux, as given in Table VII., equal to |f|^. And the pro- bability that a person, whose age is 40, shall attain to the age of 70, or live thirty years, is, according to the same observations, equal to f^.
But the probability that both those persons shall live to the end of thirty years is equal to |f | multiplied by f^^ ; that is, equal to Jf i^^it* Example 2.
What to read after The Doctrine of Life-Annuities And Assurances: Analytically Investigated ...?
You can find similar books in the "Read Also" column, or choose other free books by Francis Baily to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
§ 371. To find the probability that a life or lives, of any given age, will continue in being to the end of any given term, according to any given table of observations.
SOLUTION.
In the case of a single life, this probability is a fraction whose denomi- nator is the number of persons living at the given age, and whose numerator is the number of persons living at an age older by the given term than the given age.
In the case of joint lives it is the product of the probabilities that each of the... single lives shall continue in being to the end of the given term.
See §§ 28 and 24.
Example 1. The probability that a person, whose age is 20, shall attain to the age of 50, or live thirty years, is, according to the observations of M. De Parcieux, as given in Table VII., equal to |f|^. And the pro- bability that a person, whose age is 40, shall attain to the age of 70, or live thirty years, is, according to the same observations, equal to f^.
But the probability that both those persons shall live to the end of thirty years is equal to |f | multiplied by f^^ ; that is, equal to Jf i^^it* Example 2.
What to read after The Doctrine of Life-Annuities And Assurances: Analytically Investigated ...?
You can find similar books in the "Read Also" column, or choose other free books by Francis Baily to read onlineMoreLess
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