3.The total claim amount for a health insurance policy follows a distribution with densityfunction f(x)= 1500e-/1500 for x > 0. The insurance has a deductible of $200. Find the mean and thestandard deviation of the amount the insurance pays per claim.

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Answered: 3. The total claim amount for a health…

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter3: The Derivative

Section3.CR: Chapter 3 Review

Problem 11CR

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3. The total claim amount for a health insurance policy follows a distribution with density function f(x)= 1500e-/1500 for x > 0. The insurance has a deductible of $200. Find the mean and the standard deviation of the amount the insurance pays per claim.