Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Chapter 5, Problem 25P

The random variable x is known to be uniformly distributed between 10 and 20.

  1. a. Show the graph of the probability density function.
  2. b. Compute P ( x < 15 ) .
  3. c. Compute P ( 12 x 18 )
  4. d. Compute E ( x )
  5. e. Compute Var ( x )
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An insurance company provides customers with both auto and home insurance policies. For a particular customer, Χ is the deduction on his or her auto policy and Y is the deduction on the home policy. Possible values of Χ are K100 and K250, and for Y are K0, K100 and K200. The joint probability density function for (Χ,Y ) is given by the following table:   X Y K100 K250       K0 0.20 0.05       K100 0.10 0.15       K200 0.20 0.30         Find the probability for a randomly selected policy holder having a K100 deduction on the auto insurance and a K200 deduction on the home insurance.          Find the probability that a randomly selected policy holder has a home deduction of at least K100. Are the random variables Χ and Y independent? Explain your answer. If we look only at those insurance customers selecting the lowest auto mobile insurance deduction (K100), what is the probability that a randomly selected…

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Essentials of Business Analytics (MindTap Course List)

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