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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 0.40 1

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 0.40 1

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 21T
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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 0.40 1<x<3 0.53 3 <x<4 0.55 4≤x≤6 6sx< 12 0.92 1 12 ≤ x (a) What is the pmf of X? 1 3 p(x) (b) Using just the cdf, compute P(3 ≤ x ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤ x) = 6 12
Transcribed Image Text: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 0.40 1<x<3 0.53 3 <x<4 0.55 4≤x≤6 6sx< 12 0.92 1 12 ≤ x (a) What is the pmf of X? 1 3 p(x) (b) Using just the cdf, compute P(3 ≤ x ≤ 6) and P(4 ≤ X). P(3 ≤ x ≤ 6) = P(4 ≤ x) = 6 12
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