5y/1 / 1/3 = y−0.9/0.2 Please solve this to find y!

Mathematics

2 answers:

r-ruslan [8.4K]3 years ago

8 0

The answer is y= -1.63:

Leona [35]3 years ago

3 0

The answer is going to be Y 1.63

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Suppose the claim size of an auto collision insurance, X, is uniformly distributed on the interval $1,000 to $10,000. What is th

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Answer:

35.35%

Step-by-step explanation:

If there were no deductibles, the expected claim payment would be:

$E(X) = \frac{10,000 +1,000}{2} \\E(X) =\$5,500$

If the collision insurance claim is under $2,000, then the insurer would not pay anything, but if X > $2,000, then the insurer would pay X - $2,000. The new expected value is:

$E_2(X)=\frac{2,000-1,000}{10,000-1,000} *0+\frac{10,000-2,000}{10,000-1,000}*\frac{(2,000-2,000)+(10,000-2,000)}{2} \\E_2(X)=\frac{8}{9}*\frac{0+8,000}{2}\\ E_2(X)=\$3,555.56$