Question 14 An insurance company offers a car insurance policy that pays a set amount of money depending on the level of

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Question 14 An Insurance Company Offers A Car Insurance Policy That Pays A Set Amount Of Money Depending On The Level Of 1 (25.72 KiB) Viewed 19 times

Question 14 An Insurance Company Offers A Car Insurance Policy That Pays A Set Amount Of Money Depending On The Level Of 2 (13.47 KiB) Viewed 19 times

Question 14 An Insurance Company Offers A Car Insurance Policy That Pays A Set Amount Of Money Depending On The Level Of 3 (31.89 KiB) Viewed 19 times

Question 14 An insurance company offers a car insurance policy that pays a set amount of money depending on the level of damage to the car, as shown in the table below. Let x = the amount of money the insurance company must pay to a randomly selected customer. Amount of Damage. None.... Small amount Large amount Money Probability $0. 0.0.6 $1,000...... 0.1 $20,000..........0.3 a Calculate the expected value of X. Enter your answer as a whole number with no units. Add your answer

Question 13 Your closet has 3 pairs of pants, 5 shirts, and 7 pairs of shoes. How many distinct outfits can you make using 1 pair of pants, 1 shirt, and 1 pair of shoes at a time? Add your answer

Question 15 Interpret the expected value from Problem 14. If the insurance company sells many of these insurance policies, they will pay this exact amount to each customer. If the insurance company sells many of these insurance policies, they will pay this exact amount to the customers who B experience any amount of damage. © If the insurance company sells many of these insurance policies, this is the average amount they can expect to pay per customer. For the next customer who is randomly selected, this is the amount of money the insurance company will pay him or her.