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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 follow x < 1 1 ≤ x <3 3 ≤ x < 4 4 ≤X < 6 6 ≤ x < 12 12 ≤ x (a) What is the pmf of X? 1 F(x) = 0.35 0.45 0.50 0.89 p(x) 3 (b) Using just the cdf, compute P(3 ≤ x ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤ X) = 12

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 follow x < 1 1 ≤ x <3 3 ≤ x < 4 4 ≤X < 6 6 ≤ x < 12 12 ≤ x (a) What is the pmf of X? 1 F(x) = 0.35 0.45 0.50 0.89 p(x) 3 (b) Using just the cdf, compute P(3 ≤ x ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤ X) = 12

A First Course in Probability (10th Edition)
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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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 0.35 1<x<3 0.45 3 ≤ x < 4 0.50 4 ≤ x < 6 0.89 1 6 ≤ x < 12 12 ≤ x (a) What is the pmf of X? F(x) = X p(x) 1 3 (b) Using just the cdf, compute P(3 ≤ X ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤X) = 6 12
Transcribed Image Text: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 0.35 1<x<3 0.45 3 ≤ x < 4 0.50 4 ≤ x < 6 0.89 1 6 ≤ x < 12 12 ≤ x (a) What is the pmf of X? F(x) = X p(x) 1 3 (b) Using just the cdf, compute P(3 ≤ X ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤X) = 6 12
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