A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Question

Claim sizes, X, for an insurance policy have the following PMF: 

Find y. 
(use a decimal number, rounded to the nearest 100th. For example, 0.12)

Find P(20 < x ≤ 50)? 

Find P( 20 ≤ x ≤ 50) ? 

 

X
20
30
40
50
60
Px(x)
0.20
0.10
0.30
0.15
y
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Transcribed Image Text:X 20 30 40 50 60 Px(x) 0.20 0.10 0.30 0.15 y
Expert Solution
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Step 1: Given information:

The Probability Mass Function of X representing claim sizes for an insurance policy is, 

x
P subscript X left parenthesis x right parenthesis
200.20
300.10
400.30
500.15
60y