Wal-Mart that sells annuities and must base the annual payout on the probability distributions of the length of life of the participants in the plan....

Wal-Mart that sells annuities and must base the annual payout on the probability distributions of the length of life of the participants in the plan. Suppose the probability distribution of the lifetime of the participants is approximately a normal distribution with a mean of 65 year and a standard deviation of 4 years.