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- Actuary Tong has to study for two actuarial exams: Exam P and Exam FM. The amount of study time that Actuary Tong will spend on each exam in a day follows a continuous random variable that ranges from o to i hour. The amount of study time that Actuary Tong spends on both exams in a day has a joint density function that is equal to the sum of the study times that Actuary Tong spends on ench exam in a day. Caleulate the probability Actuary Tong spends at least half an hour in a day studying for exactly one of the exams. A 0.45 B 0.50 0.55 D 0.60 0.65 REPLet X1, X2, ..., X„ be a random sample from a Uniform(0,0 +1) population with 0 > 0, *(4)"^( +1) be the median of the random sample. X where n is an even integer. Let M Find the probability density function of the median M. Find the expected value and variance of M.Let X and Y be two random variables with joint probability mass function: p(x,y) = xy(1+y) for X=1,2,3 and Y=1,2 p(x,y) = 0, Otherwise. Please enter the answer to 2 decimal places. • What is the variance of (4-5X)?
- Let X and Y be independent Exp(2) random variables. Define W = X + Y. a) Determine the correlation between X and W. The joint pdf of X and W is: fx,w(x, w) = 1^(2) e^(-1w) I{OLet i_t denote the effective annual return achieved on an equity fund achieved between time (t -1) and time t. Annual log-returns on the fund, denoted by In(1 + i_t) , are assumed to form a series of independent and identically distributed Normal random variables with parameters u = 6% and o = 14%.An investor has a liability of £10,000 payable at time 15. Calculate the amount of money that should be invested now so that the probability that the investor will be unable to meet the liability as it falls due is only 5%. Using only formulas, no tablesand variance of X if the probability mass function is f(x) = ; ;)" , Find the moment generating function, mean x = 1, 2, 3, 4, ...let x be a random variable with moment generating function Mx(t)=(0.6 + 0.4e^t)^20 then the variance of x isA box contains 13 defective and 7 non-defective bulbs, find the probability mass function (pmf) of random variable X which represents the number of non-defective bulbs out of 5 non-defective bulbs drawn randomly.Find the probability distribution of the random variable y, which represents the number of times writing appears when a balanced coin is tossed three times. Calculate the mean and variance of the random variable y, whose probability mass function is: f (y) = y^2/30 y = 1,2,3