Giselle 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 $1300 per year. Giselle's car worth $21000 and the probability of her totaling the car during the length of the policy is estimated to be 0.3%. Let XX be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX : XX outcome profit xx ,$ P(X=x)P(X=x) car is totaled car is not totaled 2. Use the probability distribution table to find the following: E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
Giselle 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 $1300 per year. Giselle's car worth $21000 and the probability of her totaling the car during the length of the policy is estimated to be 0.3%. Let XX be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX : XX outcome profit xx ,$ P(X=x)P(X=x) car is totaled car is not totaled 2. Use the probability distribution table to find the following: E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.) SD[X]=σX=SD[X]=σX= 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
Related questions
Question
Giselle 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 $1300 per year. Giselle's car worth $21000 and the probability of her totaling the car during the length of the policy is estimated to be 0.3%. Let XX be the insurance company's profit. Answer the following questions:
1. Create the probability distribution table for XX :
| XX | outcome | profit xx ,$ | P(X=x)P(X=x) |
| car is totaled | |||
|
car is not totaled |
2. Use the probability distribution table to find the following:
-
- E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.)
- SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
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