Faith has purchased the insurance policy from an insurance company to cover the value of hers new car in case if it gets totaled for the price of $1400 per year. Faith's car worth $23000 and the probability of her totaling the car during the length of the policy is estimated to be 1%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X: O X outcome a. E[X] = μx b. SD[X]=ox car is totaled profit æ,$| P(X=x) car is not totaled 2. Use the probability distribution table to find the following: dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.)
Faith has purchased the insurance policy from an insurance company to cover the value of hers new car in case if it gets totaled for the price of $1400 per year. Faith's car worth $23000 and the probability of her totaling the car during the length of the policy is estimated to be 1%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X: O X outcome a. E[X] = μx b. SD[X]=ox car is totaled profit æ,$| P(X=x) car is not totaled 2. Use the probability distribution table to find the following: dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.)
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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![Question 6
Faith has purchased the insurance policy from an insurance company to cover the value of hers new car in
case if it gets totaled for the price of $1400 per year. Faith's car worth $23000 and the probability of her
totaling the car during the length of the policy is estimated to be 1%. Let X be the insurance company's
profit. Answer the following questions:
1. Create the probability distribution table for X:
X
outcome
a. E[X] = μx
b. SD[X] = = 0X
profit æ,$| P(X= x)
car is totaled
car is not totaled
2. Use the probability distribution table to find the following:
dollars. (Round the answer to 1 decimal place.)
dollars. (Round the answer to 1 decimal place.)
O](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc61e6f9-1283-4c33-8aac-5d95a690c4e7%2F63c721b7-8c1f-4e39-b469-3a24874d94fb%2Fbatu3h_processed.png&w=3840&q=75)
Transcribed Image Text:Question 6
Faith has purchased the insurance policy from an insurance company to cover the value of hers new car in
case if it gets totaled for the price of $1400 per year. Faith's car worth $23000 and the probability of her
totaling the car during the length of the policy is estimated to be 1%. Let X be the insurance company's
profit. Answer the following questions:
1. Create the probability distribution table for X:
X
outcome
a. E[X] = μx
b. SD[X] = = 0X
profit æ,$| P(X= x)
car is totaled
car is not totaled
2. Use the probability distribution table to find the following:
dollars. (Round the answer to 1 decimal place.)
dollars. (Round the answer to 1 decimal place.)
O
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