Mathematics, 15.01.2020 00:31 blackkiki5588
Claim amounts for wind damage to insured homes are independent random variables with common density f(x) = ( 3 x4 , x > 1 0 , otherwise where x is amount of claim in thousands. (a) find the probability that a claim is below average? [19/27] (b) suppose 3 claims will be made. what is the expected value of the largest of the three claims? [2.025] (c) suppose 3 claims will be made. what is the expected value of smallest of the three claims? [1.125]
Answers: 2
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Claim amounts for wind damage to insured homes are independent random variables with common density...
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