Math Problem Statement

You are given the following extract from a 2-year select and ultimate mortality table. Calculate 1/q[80]+1, given that q[80]+1 = q[81]+1 and the values from the table for x = 80, 81, and 82.

Solution

To solve this problem, let's break down the given information and calculate 1q[80]+1\frac{1}{q_{[80]+1}}.

Step 1: Understanding the Data

The table provides the number of lives at each age in a select and ultimate mortality table. The columns represent:

  • l[x]l_{[x]}: Number of lives at the beginning of the age xx.
  • l[x]+1l_{[x]+1}: Number of lives after one year from age xx.
  • lx+2l_{x+2}: Number of lives two years after age xx.

From the table:

  • For x=80x = 80:
    • l[80]=1000l_{[80]} = 1000
    • l[80]+1=950l_{[80]+1} = 950
    • l82=900l_{82} = 900

Step 2: Mortality Rate Calculation

The problem states that q[80]+1=q[81]+1q_{[80]+1} = q_{[81]+1}, and we need to calculate 1q[80]+1\frac{1}{q_{[80]+1}}.

Calculate q[80]+1q_{[80]+1}:

The mortality rate q[80]+1q_{[80]+1} is given by the probability of death between age 81 and 82 for a life aged 81:

[ q_{[80]+1

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Actuarial Science
Mortality Tables
Probability Theory

Formulas

q_{[80]+1} = (l_{[80]} - l_{[80]+1}) / l_{[80]}
q_{[81]+1} = (l_{[81]} - l_{x+2}) / l_{[81]}

Theorems

Mortality Rate Calculation

Suitable Grade Level

University Level (Actuarial Science/Finance)