An insurance company has 20,000 automobile policyholders. The expected claim per policyholder per year is $260 with a standard deviation of $800. Let X denote the sum of the claims of all the 20,000 policyholders ina year.(a) What is the expected value of X? That is, what is the expected total claim of all 20,000 policyholders per year?Answer: $ [Select](b) What is the standard deviation of X?Answer: $ [Select](c) What is the probability that X exceeds $5,000,000? That is, what is P(X> 5,000,000)?Answer: [Select]

Mean()=$260Standard deviation()=$800Sample of size(n)=20,000Let X denote the sum of the claims of…

Answered: An insurance company has 20,000…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Similar questions

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