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An individual who has automobile insurance from a certain company is randomly selected....

An individual who has automobile insurance from a certain company is randomly selected. Let Y be the number of moving violations for which the individual was cited during the last 3 years. The pmf of Y is

a. Compute E(Y).

b. Suppose an individual with Y violations incurs a surcharge of $100Y2. Calculate the expected amount of the surcharge.

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Solutions For Problems in Chapter 3
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