. Give the probability distribution of the possible outcomes
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- Bill has purchased the insurance policy from an insurance company to cover the value of his new RV in case if it gets totaled for the price of $1300 per year. Bill's RV worth $38000 and the probability of him totaling the RV during the length of the policy is estimated to be 0.1%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X: X outcome profit x ,$ P(X=x) RV is totaled RV is not totaled 2. Use the probability distribution table to find the following: E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX= dollars. (Round the answer to 1 decimal place.)A. Construct the probability distribution for the random variables described in each of the following situations. Draw the corresponding histogram for each probability distribution.1. Random variable X which is equal or corresponds to 52. Random variable Y, which is equal or corresponds to 8Sub part d and e
- Find the conditional probability of the given event when two fair dice (one red and one green) are rolled. The red one is 2, given that the green one is 2. X 0.17Classic Probability Kevin was a product tester at Texas Instruments. He was dropping calculators from a height of 5 feet on to a concrete surface. He found that out of 30 trials 6 of them were broken. Based on these initial trials what is the probability that the next calculator he drops will not break? OA. O A. : Theoretical Probability O B. Empirical Probability O C. Subjective Probability D. ; Dependent ProbabilityLet X = number of siblings. Use the following table to answer questions 3 and 4: x (p)x 0 2/40 1 5/40 2 0 3 14/40 4 7/40 5 4/40 3. Find the probability that a person has two siblings.a. 8/40b. 8c. 2d. 6/404. Find the expected number of siblings a person has.a. 2.78b. 15c. 3.13d. 1.0
- You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest centAsap. Just answer is also okayMegan has purchased the insurance policy from an insurance company to cover the value of hers new car in case if it gets totaled for the price of $1500 per year. Megan's car worth $20000 and the probability of her totaling the car during the length of the policy is estimated to be 0.4%. Let XX be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX : XX outcome profit xx ,$ P(X=x)P(X=x) car is totaled car is not totaled 2. Use the probability distribution table to find the following: E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)