An individual who has automobile insurance from acertain company is randomly selected. Let Y be thenumber of moving violations for which the individualwas cited during the last 3 years. The pmf of Y is y 0 2 4 6 Suppose an individual with Y violations incurs a surcharge of $100. Calculate the standard deviation of the surcharge Y. 1.48 1.72 02.2 p(y) 0.6 0.25 0.10 0.05 01.2
An individual who has automobile insurance from acertain company is randomly selected. Let Y be thenumber of moving violations for which the individualwas cited during the last 3 years. The pmf of Y is y 0 2 4 6 Suppose an individual with Y violations incurs a surcharge of $100. Calculate the standard deviation of the surcharge Y. 1.48 1.72 02.2 p(y) 0.6 0.25 0.10 0.05 01.2
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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
Transcribed Image Text:An individual who has automobile insurance from acertain company is randomly selected. Let Y be thenumber of moving
violations for which the individualwas cited during the last 3 years. The pmf of Y is
MONTE
0
2
p(y)
0.6
0.25
0.10
0.05
6
Suppose an individual with Y violations incurs a surcharge of $100. Calculate the standard deviation of the surcharge Y.
1.48
1.72
2.2
01.2
Expert Solution
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Step 1
y | p(y) | y*p(Y) |
p(Y)*y2 |
0 | 0.60 | 0.00 | 0.00 |
2 | 0.25 | 0.50 | 1.00 |
4 | 0.10 | 0.40 | 1.60 |
6 | 0.05 | 0.30 | 1.80 |
1.00 | 1.20 | 4.4 |
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