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Math Help - Why probability of living 0 years equals 1?

  1. #1
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    Smile Why probability of living 0 years equals 1?

    Why _{0}p_{x}=1?

    I'll be grateful for help
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  2. #2
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    Quote Originally Posted by Lena View Post
    Why _{0}p_{x}=1?

    I'll be grateful for help
    What you've posted makes no sense. Please post the whole question.
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  3. #3
    MHF Contributor matheagle's Avatar
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    I'm biting my tongue right now.
    I have so many light bulb questions I want to ask.
    Last edited by matheagle; April 23rd 2009 at 12:14 AM.
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  4. #4
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    Oh of course, I thought it would be enough.
    It is :
    _{0}p_{[x]+s}=1
    This is a part of first element of sum:
    \sum_{n=0}^{\infty}\pi_{s+n}v^{n}_{n}p_{[x]+s}
    Last edited by mr fantastic; April 23rd 2009 at 03:00 PM. Reason: Put in the correct latex tags, which are [math] and [/math], not [tex] and [/tex]
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  5. #5
    MHF Contributor matheagle's Avatar
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    Thanks, that clears up everything.
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  6. #6
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    Quote Originally Posted by Lena View Post
    Why _{0}p_{x}=1?

    I'll be grateful for help
    Might it not be the probability that one is alive at time 0?
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  7. #7
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    _{n}p_{[x]+s} is the conditional probability that a person of x will live at least n years, on condition that he will live s years before.

    Thanks mr fantastic for info about latex tags.
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  8. #8
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    Quote Originally Posted by Lena View Post
    _{n}p_{[x]+s} is the conditional probability that a person of x will live at least n years, on condition that he will live s years before.

    Thanks mr fantastic for info about latex tags.
    So what you're asking in this case is...

    Given that a person aged 'x' has lived for the previous 's' years, what are the chances they will live at least 0 more years?

    That is, 1 - P(they will not live for more than 0 years)..? has to equal 1..


    Unless the person in question died while they were filling in the survey.
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  9. #9
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    Yes, thats what I'm asking about.

    Well maybe its about it, it would be

    _{0}p_{[x]+s}=1-_{0}q_{[x]+s}

    where _{0}q_{[x]+s} is the conditional probability that a person of x will die in a period of '0' years, on condition that first will live for s years. But how much then is _{0}q_{[x]+s}
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  10. #10
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    Quote Originally Posted by Lena View Post
    _{n}p_{[x]+s} is the conditional probability that a person of x will live at least n years, on condition that he will live s years before.

    Thanks mr fantastic for info about latex tags.
    What is "x"?

    CB
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  11. #11
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    x is age of the person, in a moment of concluding an isurance contract.
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  12. #12
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    Quote Originally Posted by Lena View Post
    x is age of the person, in a moment of concluding an isurance contract.
    Then what does this mean: "on condition that he will live s years before"?
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  13. #13
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    The person of age 'x' first has to live 's' years, and then what is probability that he will live '0' years. It has to equal 1.
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  14. #14
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    Quote Originally Posted by CaptainBlack View Post
    Then what does this mean: "on condition that he will live s years before"?
    Suppose you're 57, (which is x in this case ), wanting a pension for when you're 65.
    So s in this case would be 8. (Because they're not going to pay that particular pension scheme if you die before you 65th birthday).

    The insurance company want to know how likely you are to live for at least n years after your 65th birthday, so they know how much pension you're likely to collect in total before you kick the bucket.

    In this case, n is 0.

    So the question is: assuming you, 57, live the 8 years until your 65th birthday, what is the probability that you live for at least 0 years after your 65th birthday.

    Or the probability that you die within 0 years of your 65th birthday.

    (0 years in this case means no time whatsoever. 0 years, 0 months, 0 days, 0 hours, 0 seconds.)


    As far as I know.
    I could be wrong.

    It has happened before.
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