An individual who has automobile insurance from a certain company is randomly selected. Let Y be the number of moving violations for which the individual was cited during the last 3 years. The pmf of Y is the following. y 1 2 3 p(y) | 0.45 | 0.25 | 0.25 | 0.05 Suppose an individual with Y violations incurs a surcharge of 80Y² ($). The expected amount of the surcharge is 64.8 160 || 186.2|| 136
An individual who has automobile insurance from a certain company is randomly selected. Let Y be the number of moving violations for which the individual was cited during the last 3 years. The pmf of Y is the following. y 1 2 3 p(y) | 0.45 | 0.25 | 0.25 | 0.05 Suppose an individual with Y violations incurs a surcharge of 80Y² ($). The expected amount of the surcharge is 64.8 160 || 186.2|| 136
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q2
![An individual who has automobile insurance from a certain company is
randomly selected. Let Y be the number of moving violations for which the
individual was cited during the last 3 years. The pmf of Y is the following.
y
1
2
3
ply) 0.45 | 0.25 | 0.25 | 0.05
Suppose an individual with Y violations incurs a surcharge of 80Y2 ($). The
expected amount of the surcharge is
64.8
160
186.2
136](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F38f88573-e02d-4b76-9ba4-6352629f6e33%2Ffd031fd8-c451-428d-9792-0fa15cd28bb9%2Fpp27nto_processed.png&w=3840&q=75)
Transcribed Image Text:An individual who has automobile insurance from a certain company is
randomly selected. Let Y be the number of moving violations for which the
individual was cited during the last 3 years. The pmf of Y is the following.
y
1
2
3
ply) 0.45 | 0.25 | 0.25 | 0.05
Suppose an individual with Y violations incurs a surcharge of 80Y2 ($). The
expected amount of the surcharge is
64.8
160
186.2
136
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