Question

8. The probability that a man aged 45 years will die before reaching the age of 60 years may be taken as 0.01. Out of a group of 10 men now aged 45 years, what is the probability that one will die before he reaches the age of 60 years?

Answer 1

This can be found using the binomial distribution:
\[P(1\ dies\ before\ age\ 60)=10\times 0.01 \times (0.99)^{9}\]