3. An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X= the number of months between successive payments. The cdf of X is as follows: x<1 15x<3 3sx<4 4sx<6 0.30 0.40 F(x) = 0.45 0.60 65x< 12 1 12 < x a. Graph the cdf F(x). b. What is the pmf of X? c. Compute P(3

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3. An insurance company offers its policyholders a number of different premium
payment options. For a randomly selected policyholder, let X = the number of
months between successive payments. The cdf of X is as follows:
x<1
0.30
1sx<3
3sx< 4
4sx< 6
65x< 12
12 <x
0.40
F(x)
0.45
0.60
1
a. Graph the cdf F(x).
b. What is the pmf of X?
c. Compute P(3 <X<6) and P(4 <X).
Transcribed Image Text:3. An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: x<1 0.30 1sx<3 3sx< 4 4sx< 6 65x< 12 12 <x 0.40 F(x) 0.45 0.60 1 a. Graph the cdf F(x). b. What is the pmf of X? c. Compute P(3 <X<6) and P(4 <X).
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