a) Make a table showing the distribution of X. P(X = x) b) What is the expected value of X? c) What does that mean for the insurance company? d) What is the standard deviation of X?
a) Make a table showing the distribution of X. P(X = x) b) What is the expected value of X? c) What does that mean for the insurance company? d) What is the standard deviation of X?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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a,b,c,d are all a part of question 2 please help me
Transcribed Image Text:2) An insurance company charges $900 annually for auto policies for teenagers. The policy specifies the
company will
teenager having a minor accident during the year is 0.15, and of having a major accident is 0.05. Let X
рay
$1,500 for a minor accident and $8,000 for a major accident. The probability of a
represent the amount that the insurance company pays out to a customer during the year.
a) Make a table showing the distribution of X.
P(X = x)
b) What is the expected value of X?
c) What does that mean for the insurance company?
d) What is the standard deviation of X?
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