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Let X be the amount in claims (in dollars) that a randomly chosen policyholder collects from an insurance company this year. The probability distribution function
Let X be the amount in claims (in dollars) that a randomly chosen policyholder collects from an insurance company this year. The probability distribution function of X is given below. X = claim amount 0 100 500 1000 Probability 0.80 0.07 0.10 0.03 What is the expected value of X? $400 $13 $0 $87
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