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Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. Let XX  be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome profit xx ,$  P(X=x)P(X=x)    fish passes away       fish survives     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.)

Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. Let XX  be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome profit xx ,$  P(X=x)P(X=x)    fish passes away       fish survives     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
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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Nicole has purchased the life insurance policy for her fish for the price of $200 per year and Nicole will receive $4000 in case if her fish passes away. The insurance company estimated the probability of her fish passing away during the length of the policy to be 0.5%. 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) 
  fish passes away    
 

fish survives

    

2. Use the probability distribution table to find the following:

    1.  E[X]=μX=E[X]=μX= dollars. (Round the answer to 1 decimal place.)
    2.  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
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