An insurance policy reimburses a loss up to a benefit limit of 10. The policyholders loss, Y,
Question:
An insurance policy reimburses a loss up to a benefit limit of 10. The policyholder’s loss, Y, follows a distribution with density function:
What is the expected value of the benefit paid under the insurance policy? Choose one of the following.
(a) 1.0
(b) 1.3
(c) 1.8
(d) 1.9
(e) 2.0
Transcribed Image Text:
f(y) = 2 J 0 for y > 1 otherwise.
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