In deciding upon the appropriate premium to charge, insurance companies sometimes use the exponential principle, defined as foll
ows. With X as the random amount that it will have to pay in claims, the premium charged by the insurance company is P = 1/a ln(E(e aX )) where a is some specified positive constant. Find P when X is exponential random variable with parameter lambda, and a = alpha lambda, where 0 < alpha < 1.
1 answer:
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To find the test statistic or z-score given sample number (n), sample mean (x), standard deviation (σ), and population mean (μ), we can use
Given that n = 36, x = 24.6, μ = 20, and σ = 12,
From this, we see that the test statistic is 2.3.
Answer: 2.3
Given that n = 36, x = 24.6, μ = 20, and σ = 12,
From this, we see that the test statistic is 2.3.
Answer: 2.3
Step-by-step explanation:
Let there be point X whose coordinates are (a2,b2) and point Y whose coordinates are (a1,b1)
Using distance formula ,
Distance formula will be
