There is a 0.9987 probability that a randomly selected 29-year-old male lives through the year. A life insurance company charges $\$ 151$ for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $\$ 80,000$ as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 29-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? The value corresponding to surviving the year is $\$ \square$. The value corresponding to not surviving the year is $\$ \square$. (Type integers or decimals. Do not round.) b. If the 29-year-old male purchases the policy, what is his expected value? The expected value is $\$ \square$. (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? because the insurance company expects to make an average profit of $\$ \square$ on every 29 -year-old male it insures for 1 year. (Round to the nearest cent as needed.)

Step 1 ：a. The monetary value corresponding to the 29-year-old male surviving the year is the cost of the insurance policy, which is $-151$. The negative sign indicates that this is a cost to the individual. The monetary value corresponding to the 29-year-old male not surviving the year is the payout of the insurance policy minus the cost of the insurance, which is $80,000 - 151 = $79,849.

Step 2 ：b. The expected value is calculated by multiplying each outcome by its probability and then summing these products. The probability of surviving is 0.9987 and the corresponding value is $-151$, and the probability of not surviving is $1 - 0.9987 = 0.0013$ and the corresponding value is $79,849$. So, the expected value is $0.9987*(-151) + 0.0013*79849 = -150.287 + 103.9037 = -46.3833$. So, the expected value is $-46.38$.

Step 3 ：c. The insurance company can expect to make a profit from many such policies because the expected value from the perspective of the 29-year-old male is negative, which means that on average, the 29-year-old male will lose money on this policy. This loss for the insured individual translates to a gain for the insurance company. The insurance company expects to make an average profit of $46.38$ on every 29-year-old male it insures for 1 year.