6.2 Dental Insurance You plan to purchase dental insurance TRY for your three remaining years in school. The insurance makes a one-time payment of $1,000 in case of a major dental repair (such as an implant) or $100 in case of a minor repair (such as a cavity). If you don't need dental repair over the next 3 years, the insurance expires and you receive no payout. You estimate the chances of requiring a major repair over the next 3 years as 5%, a minor repair as 60% and no repair as 35%. a. Why is X = payout of dental insurance a random variable? b. Is X discrete or continuous? What are its possible values? c. Give the probability distribution of X. tho prob.

6.2 Dental Insurance You plan to purchase dental insurance TRY for your three remaining years in school. The insurance makes a one-time payment of $1,000 in case of a major dental repair (such as an implant) or $100 in case of a minor repair (such as a cavity). If you don't need dental repair over the next 3 years, the insurance expires and you receive no payout. You estimate the chances of requiring a major repair over the next 3 years as 5%, a minor repair as 60% and no repair as 35%. a. Why is X = payout of dental insurance a random variable? b. Is X discrete or continuous? What are its possible values? c. Give the probability distribution of X. tho prob.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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