{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T05:02:23-04:00", "answer_date": "2024-06-28 05:02:23", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4244221", "url": "\/study-help\/questions\/1-a-state-and-prove-the-law-of-large-numbers-4244221", "question_creation_date_js": "2024-06-28T05:02:23-04:00", "question_creation_date": "Jun 28, 2024 05:02 AM", "meta_title": "[Solved] 1) a) State and prove the Law of large nu | SolutionInn", "meta_description": "Answer of - 1) a) State and prove the Law of large numbers. That is if X1, X2, .. . are i.i.d. then the average on the long run co | SolutionInn", "meta_keywords": "1,state,prove,law,large,numbers,x1,x2,average,long,run,converges", "question_title_h1": "1) a) State and prove the Law of large numbers. That is if X1, X2, .. . are i.i.d. then the average on the long", "question_title": "1) a) State and prove the Law of large numbers. That is", "question_title_for_js_snippet": "1) a) State and prove the Law of large numbers That is if X1, X2, are i i d then the average on the long run converges to Explain why b) Explain why for a sequence of i i d X1, X2, , we have UX14Xz Xn Vnox1 c) The yearly insurance claims for car insurance of the ith customer is denoted by Xi We assume X1, X2, are i i d The expected cost of a claim is E X, 1000 The standard deviation is Ox 3000 If the insurance has 10000 people insured, and no other insurance contracts, how much does the insurance need to charge each client to cover the yearly total claim with probability 0 975 at least (not including profit and administrative cost) lity certain polymer We assume", "question_description": "

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\"image<\/div><\/div><\/div> 1) a) State and prove the Law of large numbers. That is if X1, X2, .. . are i.i.d. then the average on the long run converges to . ? Explain why. b) Explain why for a sequence of i.i.d. X1, X2, ..., we have UX14Xz+.+Xn = Vnox1. c) The yearly insurance claims for car insurance of the ith customer is denoted by Xi. We assume X1, X2, ... are i.i.d. The expected cost of a claim is E[X,] = 1000. The standard deviation is Ox = 3000 If the insurance has 10000 people insured, and no other insurance contracts, how much does the insurance need to charge each client to cover the yearly total claim with probability 0.975 at least. (not including profit and administrative cost). lity certain polymer. We assume", "transcribed_text": "", "related_book": { "title": "Auditing and Assurance Services", "isbn": "978-1259573286, 1259573281, 978-1260152166", "edition": "7th edition", "authors": "Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1263.jpg", "uri": "\/textbooks\/auditing-and-assurance-services-7th-edition-1263", "see_more_uri": "" }, "free_related_book": { "isbn": "B08FP9Z5TH", "uri": "\/textbooks\/big-norance-1st-edition-979-8669940768-267838", "name": "Big Norance", "edition": "1st Edition" }, "question_posted": "2024-06-28 05:02:23", "see_more_questions_link": "\/study-help\/questions\/sciences-biology-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/two-years-ago-on-march-1-2012-general-waste-management", "description": "Two years ago, on March 1, 2012, General Waste Management Systems purchased five used trucks and debited the Trucks account for the total cost of $180,000. 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