Miscellanea Curiosa, Vol. 1: Containing a collection of some of the principal phaenomena in nature, accounted for by the greatest philosophers of this age
History
Miscellanea Curiosa, Vol. 1: Containing a collection of some of the principal phaenomena in nature, accounted for by the greatest philosophers of this age
Natural history; Science -- Early works to 1800; Voyages and travels -- Early works to 1800
two Persons of 18 and 35 are proposed, and after 8 Years these Chances
are required. The Numbers for 18 and 35, are 610 and 490; and there are
50 of the First Age dead in 8 Years, and 73 of the Elder Age. There are
in all 610 × 490, or 298900 Chances; of these there are 50 × 73, or
3650, that they are both dead. And as 298900, to 298900 - 3650, or
295250: So is the present Value of a Sum of Money to be paid after 8
Years, to the present Value of a Sum to be paid, if either of the two
live. And as 560 × 73, so are the Chances that the Elder is dead,
leaving the Younger; and as 417 × 50, so are the Chances that the
Younger is dead, leaving the Elder. Wherefore as 610 × 490 to 560 × 73,
so is the present Value of a Sum to be paid at 8 Years end, to the Sum
to be paid for the Chance of the Younger's Survivance; and as 610 × 490
to 417 × 50, so is the same present Value to the Sum to be paid for the
Chance of the Elder's Survivance.
This possibly may be yet better explained, by expounding these Products
by Rectangular Parallelograms, as in _Fig. 7._ wherein _AB_ or _CD_
represents the number of Persons of the younger Age, and _DE_, _BH_
those remaining alive after a certain Term of Years; whence _CE_ will
answer the number of those dead in that time: So _AC_, _BD_ may
represent the number of the elder Age; _AF_, _BI_ the Survivors after
the same Term; and _CF_, _DI_, those of that Age that are dead at that
time. Then shall the whole Parallelogram _ABCD_ be _Nn_, or the Product
of the two Numbers of Persons, representing such a number of Persons of
the two Ages given; and by what was said before, after the Term
proposed, the Rectangle _HD_ shall be as the number of Persons of the
younger Age that survive, and the Rectangle _AE_ as the number of those
that die. So likewise the Rectangles _AI_, _FD_ shall be as the Numbers,
living and dead, of the other Age. Hence the Rectangle _HI_ shall be as
an equal number of both Ages surviving. The Rectangle _FE_ being the
Product of the Deceased, or _Yy_, an equal number of both dead. The
Rectangle _GD_ or _Ry_, a number living of the younger Age, and dead of
the elder: And the Rectangle _AG_ or _rY_ a number living of the elder
Age, but dead of the younger. This being understood, it is obvious, that
as the whole Rectangle _AD_ or _Nn_ is to the _Gnomon FABDEG_ or
_Nn - Yy_, so is the whole number of Persons or Chances, to the number of
Chances that one of the two Persons is living: And as _AD_ or _Nn_ is to
_FE_ or _Yy_, so are all the Chances, to the Chances that both are dead;
whereby may be computed the Value of the Reversion after both Lives. And
as _AD_ to _GD_ or _Ry_, so the whole number of Chances, to the Chances
that the younger is living, and the other dead; whereby may be cast up
what Value ought to be paid for the Reversion of one Life after another,
as in the Case of providing for Clergy-men's Widows, and others, by such
Reversions. And as _AD_ to _AG_, or _rY_, so are all the Chances, to
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