Answer:
y₀.₉₅ = 3659
Step-by-step explanation:
P( no accident ) = 0.8
P( one accident ) = 0
deductible = 500
mean = 3000
<u>Determine the 95th percentile of the insurance company payout </u>
Assuming : y =company payout , x =amount of loss incurred due to accident
Then :
P( x < 500 ) = 0.2 ( 1 - e^-500/3000)
= 0.2 ( 1 - e^-1/6 )
95th percentile =
= P( y < y₀.₉₅ ) 0.95
P( y = 0 ) = 0.8 + 0.2 ( 1 - e^-1/6 ) = 0.8307
attached below is the remainder of the solution
Answer:
2) D: x = [0, 24]
3) R: y = [0, 384]
4) see graph
<u>Step-by-step explanation:</u>
Eric's regular wage is $12 per hour for all hours less than 9 hours.
The minimum number of hours Eric can work each day is 0.
f(x) = 12x for 0 ≤ x < 9
Eric's overtime wage is $18 per hour for 9 hours and greater.
The maximum number of hours Eric can work each day is 24 (because there are only 24 hours in a day).
f(x) = 18(x - 8) + 12(8)
= 18x - 144 + 96
= 18x - 48 for 9 ≤ x ≤ 24
The daily wage where x represents the number of hours worked can be displayed in function format as follows:
2) Domain represents the x-values (number of hours Eric can work).
The minimum hours he can work in one day is 0 and the maximum he can work in one day is 24.
D: 0 ≤ x ≤ 24 → D: x = [0, 24]
3) Range represents the y-values (wage Eric will earn).
Eric's wage depends on the number of hours he works. Use the Domain (given above) to find the wage.
The minimum hours he can work in one day is 0.
f(x) = 12x
f(0) = 12(0)
= 0
The maximum hours he can work in one day is 24 <em>(although unlikely, it is theoretically possible).</em>
f(x) = 18x - 48
f(24) = 18(24) - 48
= 432 - 48
= 384
D: 0 ≤ y ≤ 384 → D: x = [0, 384]
4) see graph.
Notice that there is an open dot at x = 9 for f(x) = 12x
and a closed dot at x = 9 for f(x) = 18x - 48
