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Arturo has purchased the insurance policy from an insurance company to cover the value of his new car in case if it gets totaled for the price of $1300 per year. Arturo's car worth $23000 and the probability of him totaling the car during the length of the policy is estimated to be 0.3%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : outcome profit z ,$ P(X = r) car is totaled -21 X 0.0 x car is not totaled 15( X 0.9 X 2. Use the probability distribution table to find the following: a. E[X] = µx= 12i x dollars. (Round the answer to 1 decimal place.) 221 x dollars. (Round the answer to 1 decimal place.) %3D !! b. SD[X] = ox = %3!

Arturo has purchased the insurance policy from an insurance company to cover the value of his new car in case if it gets totaled for the price of $1300 per year. Arturo's car worth $23000 and the probability of him totaling the car during the length of the policy is estimated to be 0.3%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : outcome profit z ,$ P(X = r) car is totaled -21 X 0.0 x car is not totaled 15( X 0.9 X 2. Use the probability distribution table to find the following: a. E[X] = µx= 12i x dollars. (Round the answer to 1 decimal place.) 221 x dollars. (Round the answer to 1 decimal place.) %3D !! b. SD[X] = ox = %3!

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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Arturo has purchased the insurance policy from an insurance company to cover the value of his new car in case if it gets totaled for the price of $1300 per year. Arturo's car worth $23000 and the probability of him totaling the car during the length of the policy is estimated to be 0.3%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : outcome profit z ,$ P(X = r) car is totaled -21 X 0.0 x car is not totaled 0.9 X 15( X 2. Use the probability distribution table to find the following: a. E[X] = µx= 12i x dollars. (Round the answer to 1 decimal place.) %3D !! b. SD[X] = ox = 22t x dollars. (Round the answer to 1 decimal place.) %3!
Transcribed Image Text:Arturo has purchased the insurance policy from an insurance company to cover the value of his new car in case if it gets totaled for the price of $1300 per year. Arturo's car worth $23000 and the probability of him totaling the car during the length of the policy is estimated to be 0.3%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : outcome profit z ,$ P(X = r) car is totaled -21 X 0.0 x car is not totaled 0.9 X 15( X 2. Use the probability distribution table to find the following: a. E[X] = µx= 12i x dollars. (Round the answer to 1 decimal place.) %3D !! b. SD[X] = ox = 22t x dollars. (Round the answer to 1 decimal place.) %3!
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