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Please answer quickly, I'll give upvote. A device is insured against early failure. The lifetime of the device (after being bought) is exponentially distributed with an expected lifetime of 2.5 years. The insurance will pay 22000 if the device fails within its first year, and 11000 if the device fails within its second year. If the device fails after the second year, then the insurance pays nothing. Determine the expected value that the insurance will pay for a single device. You may enter your answer to the nearest whole number. Note that "within the first year" means in the interval (0,1] years and "within the second year" means in the interval (1,2] years.

Please answer quickly, I'll give upvote. A device is insured against early failure. The lifetime of the device (after being bought) is exponentially distributed with an expected lifetime of 2.5 years. The insurance will pay 22000 if the device fails within its first year, and 11000 if the device fails within its second year. If the device fails after the second year, then the insurance pays nothing. Determine the expected value that the insurance will pay for a single device. You may enter your answer to the nearest whole number. Note that "within the first year" means in the interval (0,1] years and "within the second year" means in the interval (1,2] years.

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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Please answer quickly, I'll give upvote. A device is insured against early failure. The lifetime of the device (after being bought) is exponentially distributed with an expected lifetime of 2.5 years. The insurance will pay 22000 if the device fails within its first year, and 11000 if the device fails within its second year. If the device fails after the second year, then the insurance pays nothing. Determine the expected value that the insurance will pay for a single device. You may enter your answer to the nearest whole number.

Note that "within the first year" means in the interval (0,1] years and "within the second year" means in the interval (1,2] years.

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