Question

An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: F(x) =0 - x < 10.33 - 1 < x < 30.44 - 3 < x < 40.48 - 4 < x < 60.86 - 6 < x < 121 - 12 < xa. What is the pmf of X? x 1 3 4 6 12p(x)b. Using just the cdf, compute P(3 ≤ X ≤ 6) and P(4 ≤ X).P(3 < X < 6) =P(4 < X) =

Answer 1

Answer:

Step-by-step explanation:

Given that X is the number of months between successive payments

Cumulative distribution function of X is

$F(x) =0, x$

a) PMF of x would be

$P(x) =0, x$

b) $P(3 ≤ X ≤ 6) =0.86-0.44=0.42\\ P(4 ≤ X)=1-0.44=0.56\\P(3 < X < 6) =0.6\\P(4 < X) =1-0.48=0.52$