An insurance company offers the following insurance package to a customer with three businesses on the same street. The

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An Insurance Company Offers The Following Insurance Package To A Customer With Three Businesses On The Same Street The 1 (51.18 KiB) Viewed 47 times

An insurance company offers the following insurance package to a customer with three businesses on the same street. The insurer will pay for all damages to the business that incurs the most damage, but nothing for the other businesses. Each business is worth a total of $4 million. The density functions are as follows, with values given in millions of dollars. Assume X, Y, and Z are independent random variables. f(x) is uniform on (0,4). gy) 3y? o syst 64 8 h() 0<:<4 Find the probability density function of the amount the insurer will pay. A 3 w 5 2048 B ער 4096 с 3 w ,5 4096 D 2048 4 E 3w 2048 SHOW SOLUTION