24. The number of claims received at an insurance company during a week is a random variable...
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24. The number of claims received at an insurance company during a week is a random variable with mean fxx and variance o\. The amount paid in each claim is a random variable with mean ì2 a nd variance ó\. Find the mean and variance of the amount of money paid by the insurance company each week. What independence assumptions are you making? Are these assumptions reasonable?
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