Mathematics, 05.03.2020 14:32 ajanchondo2004

Professor Hohn has an insurance policy on her car with a $500 deductible. This means that if she gets into an accident she will personally pay for 100% of the repairs up to $500, with the insurance company paying the rest. Suppose the the cost of repairs for the next accident is uniformly distributed between $100 and $1500. Let X denote the amount Professor John will have to pay. (a) Find the cumulative distribution function of X. (b) Compute the expected value of X. (c) Compute Var X a. Hint: Let Y be the total cost of repairs. Then, X, the amount Professor Hohn will have to pay, can we written as X " gpY q where

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Professor Hohn has an insurance policy on her car with a $500 deductible. This means that if she get...