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An insurance policy pays only loss amountsn millions} that do not exceed 3. The loss is a random Trariable X with the following CDF F{I}={1[1+r}e_
An insurance policy pays only loss amountsn millions} that do not exceed 3. The loss is a random Trariable X with the following CDF F{I}={1[1+r}e_ foretell [l elsewhere a. Compute the probability of paying a loss, El. b. Suppose 1U independent losses were selected from the company's records and examined. Let Y be the number of losses paid among the 11'] examined. Compute the mean and the variance of Y. c. Compute the probability that the number of losses paid is exactlyr three [1. Compute the probability that the number of losses paid is no less than one
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