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TIONS REMAINING 2.A random variable, Claim amount (). in ten thousand Rand, has probability distribution given by: 4 8 12 16 20 24 28
TIONS REMAINING 2.A random variable, Claim amount (). in ten thousand Rand, has probability distribution given by: 4 8 12 16 20 24 28 32 CE 36 40 40 44 48 0.08 0.03 0.03 0.01 0.01 0.02 p(c) 0.02 0.08 0.05 0.02 0.03 0.04 3 3 52 56 60 64 68 72 76 80 184 76 88 92 96 100 0.03 0.03 0.1 pic) 0.06 0.04 0.05 0.04 3 0.03 0.06 3 0.01 0.05 0.01 0.05 8 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
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