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The probability that an insured driver has an automobile accident is 0.15. If an accident has occurred, the damage to the vehicle amounts to 20%

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The probability that an insured driver has an automobile accident is 0.15. If an accident has occurred, the damage to the vehicle amounts to 20% of its market value with a probability of 0.80, to 60% of its market value with a probability of 0.12, and to a total loss with a probability of 0.08. Let x be the gain to the insurance company for a particular insured driver who has a $12,000 car (market value). Suppose that the premium charged to the driver is $600. (Hint1: gain=premium-damage to the vehicle amounts HintZ: the values to the gain can be positive or negative) 0 Find the probability mass function for X. (0 Find the mean and standard deviation of the profit X

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