Mathematics, 23.04.2021 02:30 kmacho9726

Company XYZ will pay a death benefit of $1000 to each of its 5000 employees who die in the upcoming year. There is 3% chance that an employee will die in the upcoming year. Determine the amount of funds that Company XYZ needs to have if the company wants to have a 95% probability of having sufficient money to pay the benefits. (You may ignore the continuity correction.)

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