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REMAININ 2.A random variable, Claim amount (). in ten thousand Rand, has probability distribution given by: 4 8 12 16 20 20 24 28
REMAININ 2.A random variable, Claim amount (). in ten thousand Rand, has probability distribution given by: 4 8 12 16 20 20 24 28 32 36 40 44 48 0.05 0.03 0.03 0.01 0.01 0.02 0.02 0.05 p(c) 0.05 0.02 0.03 0.04 6 6 2 52 56 60 64 68 72 76 80 84 88 92 96 100 0.03 0.03 0.1 P(C) 0.06 0.04 0.04 0.05 10.03 0.05 0.06 3 3 0.02 0.03 0.07 8 4 Calculate: a. The expected claim amount (in Rand value) Blank 1 b. The standard deviation in claim amount (in Rand value). Interpret in terms of Rand Blank 2 Blank 1 Last saved 15:18:15
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