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Claim sizes, X, for an insurance policy have the following PMF:  Find y.  (use a decimal number, rounded to the nearest 100th. For example, 0.12) Find P(20 < x ≤ 50)?  Find P( 20 ≤ x ≤ 50) ?

Claim sizes, X, for an insurance policy have the following PMF:  Find y.  (use a decimal number, rounded to the nearest 100th. For example, 0.12) Find P(20 < x ≤ 50)?  Find P( 20 ≤ x ≤ 50) ?

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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Question

Claim sizes, X, for an insurance policy have the following PMF: 

Find y. 
(use a decimal number, rounded to the nearest 100th. For example, 0.12)

Find P(20 < x ≤ 50)? 

Find P( 20 ≤ x ≤ 50) ? 

 

X 20 30 40 50 60 Px(x) 0.20 0.10 0.30 0.15 y
Transcribed Image Text:X 20 30 40 50 60 Px(x) 0.20 0.10 0.30 0.15 y
Expert Solution
Step 1: Given information:

The Probability Mass Function of X representing claim sizes for an insurance policy is, 

x
P subscript X left parenthesis x right parenthesis
200.20
300.10
400.30
500.15
60y
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