Q17 An insurance company charges 500 for an insurance policy against fire and theft in...
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Q17 An insurance company charges 500 for an insurance policy against fire and theft in the home If a home is destroyed by fire then the insurance company will pay the homeowner 250 000 What is the expected value per policy to the insurance company if the probability that a home will be destroyed by fire is 0 0003 B 424 85 X A 425 00 Q18 You roll a standard die once 1 2 3 4 5 6 A is the event that you roll a prime number What is the probability of AC the complement of A A 1 3 B 2 3 C 1 6 C 412 85 D 510 12 0 0 01 D 1 2 Q19 We choose a household at random and X number of TVs in the house We have the following 3 0 01 0 1210 x 2 1 2 E Chocolate Cake 0 55 E O D 2 0 30 4 P X 0 12 What is the probability that a randomly selected household has no more than two TVs A 0 68 B 0 87 C 0 55 D 0 85 E 0 32 Q20 The mean of X is 5 and the standard deviation of X is 1 The variable X is transformed according to the formula Y 2X 1 What is the standard deviation of Y A 9 B 1 C 1 E 2 0 02
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