24. An insurance company offers its policyholders a num- ber of different premium payment options. For...
An insurance company offers its policyholders a number of different premium payment options. For a randomly selected payments. The cdf of X is as follows policyholder, let x a the number of months between successive 0.37 1Sx <3 Fx)0.49 3sx <4 0.85 6sx <12 12 s x (a) What is the pmf of x? 12 p(x) (b) Using just the cdf, compute P(3 S XS 6) and P4 x
An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: F(x) = x <1 0.34 1<x<3 0.44 3 <x< 4 0.494 <x< 6 0.82 6<x< 12 1 125 x (a) What is the pmf of X? P(x) (b) Using just the cdf, compute P(3 5 X 5 6) and P(4 5 X). P(35X56) = P(4...
An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: F(x) = 0 x < 1 0.33 1 < x < 3 0.44 3 < x < 4 0.48 4 < x < 6 0.86 6 < x < 12 1 12 < x (a) What is...
An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X be the number of months between successive payments. The cumulative distribution function of X is F(x) = {0, if x < 1, 0.4, if 1 lessthanorequalto x < 3, 0.6, if 3 lessthanorequalto x < 5, 0.8, if 5 lessthanorequalto x < 7, 1.0, if x greaterthanorequalto 7. (a) What is the probability mass function of X? (b) Compute P(4...
SELF ASSESSMENT 2 An insurance company offers policyholders a number of different Premium payment options. For a randomly selected policyholder, let X be the number of months between successive payments. The cumulative distribution function,cdf, of X is as follows: F(x) = 0x< 1 0.30 15x<3 0.40 35x< 4 10.45 4 < x < 6 0.60 6<x< 12 x 12 1 i. Determine the probability distribution function, f(x). ii. Find the expectation and standard deviation of X. iii. Compute,P(3 SXS 6).
(3) An insurance company offers its policyholders a number of different payment options For a randomly sclected policyholder, let X the number of months between successive payments. The edf of X is as follows: 40 3514 44s6 Fa a. What ts the prnfonr b Using just the cdf compue 20 a Using just the pmf compute Px
An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X be the number of months between successive payments. The cumulative distribution function of X is ⎧ ⎪ ⎪ 0, if x < 1, ⎪ ⎪ ⎨ ⎪ 0.4, if 1 ≤ x < 3, F(x) = 0.6, if 3 ≤ x < 5, ⎪ ⎪ ⎪ ⎪ 0.8, if 5 ≤ x < 7, ⎩ ⎪ 1.0, if x ≥...
the class is EGEN 350 pleas i need the answers of questions 4,5 and 6 (3pts) An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = number of months between successive payments. If the CDF is as follows, fill in the pmf in the table provided? 4. 0.30 1sx <3 0.45 4 x<6 0.60 6 Sx < 12 1x2 12 Fx)0.40 3sx <4 P(X x) (3pts) A certain type...
1. Three couples and two single individuals have been invited to an investment seminar and agreed to attend. Suppose the probability that any particular couple or individual arrives late is 0.4. (Any couple drives in the same car so they are either both late or both on time.) Assume that different couples and individuals arrive independently of one another. Let X = the number of people who arrive late for the seminar. a. Determine the pmf of X (Hint: label...
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Life expectancy is a statistical measure of average time a person is expected to live, based on a number of demographic factors. Mathematically, life expectancy is the mean number of years of life remaining at a given age, assuming age-specific mortality rates remain at their most recently measured levels. Last year the average life expectancy of all the Life Insurance policyholders in Ontario...