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

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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
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
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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