The annual premium for a $15,000 insurance policy against the theft of a painting is $200. If the (empirical) probability that the painting will be stolen during the year is 0.01, what is your expected return from the insurance company if you take out this insurance? Let X be the random variable for the amount of money received from the insurance company in the given year. E(X) = dollars

The annual premium for a ​$15,000 insurance policy against the theft of a painting is ​$250. If the​ (empirical) probability that the painting will be stolen during the year is 0.02​, what is your expected return from the insurance company if you take out this​ insurance?   Let X be the random variable for the amount of money received from the insurance company in the given year.   ​E(X)=           dollars

Find E(X), Var(X), and the standard deviation of X, where X is the random variable whose probability table is given in the table below. Outcome 1 2 3 1 1 Probability 5 5 What is the expected value of the random variable X associated with the probability table given in the problem statement? E(X) = 12 5 (Type an integer or a simplified fraction.) What is the variance of the random variable X? Var(X) = (Type an integer or a simplified fraction.) 35 ■ . = C (-) Moro

Suppose that the random variable xx, shown below, represents the number of speeding tickets a person received in a three-year period. P(x)P(x) represents the probability of a randomly selected person having received that number of speeding tickets during that period. Use the probability distribution table shown below to answer the following questions. xx P(x)P(x) 0 0.287 1 0.2846 2 0.2375 3 0.0992 4 0.0471 5 0.0446 6+ 0.0000 a) What is the probability that a randomly selected person has received four tickets in a three-year period?P(x=4)=P(x=4)=b) What is the probability that a randomly selected person has received four or more tickets in a three-year period?P(x≥4)=P(x≥4)=c) What is the probability that a randomly selected person has received more than four tickets in a three-year period? P(x>4)=P(x>4)=d) Would it be unusual to randomly select a person who has received four tickets in a three-year period? Yes No e) Which probability should we use to…

Suppose that the random variable xx, shown below, represents the number of speeding tickets a person received in a three-year period. P(x)P(x) represents the probability of a randomly selected person having received that number of speeding tickets during that period. Use the probability distribution table shown below to answer the following questions. xx P(x)P(x) 0 0.3891 1 0.281 2 0.1497 3 0.098 4 0.0471 5 0.0351 6+ 0.0000 What is the probability that a randomly selected person has received four or more tickets in a three-year period?P(x≥4)=What is the probability that a randomly selected person has received more than four tickets in a three-year period?P(x>4)=Help me, please?

0.035  0.063  0.182  0.430

Five thousand tickets are sold at $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded as follows: 1 prize of $900, 3 prizes of $100, 5 prizes of $20, and 20 prizes of $5. What is the expected value of this raffle if you buy 1 ticket? Let X be the random variable for the amount won on a single raffle ticket. E(X) =dollars (Round to the nearest cent as needed.) Room Clear all Check answer Help me solve this View an example Textbook Dlesceuieit o F ahnite for more innformation etv S- RA A FEB 6 ... MacBook Air F12 FIO 20 F3 888 F4 F7 F5 esc F1 $ % & * 8 9 4 5 6 2 P Y T # 3

Dispatches to the Miami Coast Guard Search & Rescue Division concern either routine or emergency cases. The time to process a routine case is an exponential random variable with an expected value of 3 minutes, while the time to process an emergency case is an exponential random variable with an expected value of 10 minutes. A dispatch is routine with a probability of 0.8, or an emergency with a probability of 0.2. The status of dispatches and processing times are independent across dispatches. Let X be the processing time of the next dispatch. a) Calculate P{X > 4}.b) Calculate E[X].c) Calculate Var(X). (Hint: Var(X) = E[Var(X |Y )] + Var(E[X |Y ]).

For a particular disease, the probability that a patient passes away within the xth year is given by the following table:   xx P(x)P(x) 0 0.016 1 0.031 2 0.256 3 0.298 4 0.35 5 0.028 6 0.021   This means that the probability that someone passes away within the first year is 0.016. The probability that they pass away after one year would be 0.031.  What is the mean number of years someone survives?  (round to two decimal places) What is the standard deviation for the number of years someone survives?  (round to two decimal places) The Range Rule of Thumb for survival would be:  years to  years. (Round each to two decimal places.) In your own words, interpret what the Range Rule of Thumb tells us about this disease. (If you don't remember what the Range Rule of Thumb is, review the heading "Unusual Values" in the Learning Activities.)

The annual premium for a $20,000 insurance policy against the theft of a painting is $350. If the (empirical) probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance? Let X be the random variable for the amount of money received from the insurance company in the given year. E(X)= dollars