Answer:
A) the probability model for the insurance company's profit:
<u>x 100 -9,900 -2,900</u>
P(X = x) 0.9975 0.0005 0.002
There is a 0.05% chance that there will be a major injury and a 0.2% chance of a minor injury, the chance of no injury happening is 99.75%.
B) the company's expected profit = ($100 x 0.9975) + (-$9,900 x 0.0005) + (-$2,900 x 0.002) = $99.75 - $4.95 - $5.80 = $89
C) the standard deviation is the square root of the variance, and the variance =
σ² = ∑(x - μ)² P(x) = (11² x 0.9975) + (9989² x 0.0005) + (2989² x 0.002) = 121 + 49,890 + 17,868 = 67,879
standard deviation = √σ² = √67,879 = 260.54
After 4 months! You do 120-20=100 which indicates only the month prices, then 100 divided by 25 which is 4!
It is the frist onn so you know
Find the pattern. 184-164 gets you 20. so 84 - 20 is your answer
