BB Courses - Blackboard Leam X e Do Homework - Tyler Fisher X - Stephen A. and M
ID: 3063990 • Letter: B
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BB Courses - Blackboard Leam X e Do Homework - Tyler Fisher X - Stephen A. and Max debate: W X E Simplifying Fractions Calculato X C Statistics and Probability questi x + - x O in (E) > C © A https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkid=467289390&questionid;=1&flushed;=false&cid; *** V * = MATHS 125-038 - TR 5-6:15pm (Spring 2018) Tyler Fisher & 3/19/18 1:28 PM Save Homework: 11.8 - Expected Value Score: 0 of 1 pt 11.8.3 1 of 7 (1 complete) > > HW Score: 14.29%, 1 of 7 pts IE Question Help Amount of claim (to the nearest $50,000) Probability The table shows claims and their probabilities for an insurance company. Use the table to answer parts a through c. $0 0.65 $50,000 $100,000 $150,000 $200,000 $250 000 0.21 0.06 0.04 0.03 001 a. Calculate the expected value. Enter your answer in the answer box and then click Check Answer. Clear All Check Answer Check Answer 2 parts javascript:doExercise[1]: E o Type here to search o e Ê a * N N D A A A & D 1:28 PM G 10 3/192018 I VExplanation / Answer
Expected Value = Sum[x*P(x)]
(0 * 0.65) + (50,000 * 0.21) +(100,000 * 0.06) +(150,000 * 0.04) +(200,000 * 0.03) +(250,000 * 0.01)
= 0 + 10,500 + 6,000 + 6,000 + 6,000 + 2500
= 31,000
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