Question:
Let X be a random variable denoting the amount of loss in a business. The moment generating function of X is
\(M(t)=(\frac{2}{2-t})^2,\ \ \ \ t< 2.\)
If an insurance policy pays 60% of the loss, then the variance of the amount paid by the insurance policy equals __________ (round off to 2 decimal places)
Let X be a random variable denoting the amount of loss in a business. The moment generating function of X is
\(M(t)=(\frac{2}{2-t})^2,\ \ \ \ t< 2.\)
If an insurance policy pays 60% of the loss, then the variance of the amount paid by the insurance policy equals __________ (round off to 2 decimal places)
\(M(t)=(\frac{2}{2-t})^2,\ \ \ \ t< 2.\)
If an insurance policy pays 60% of the loss, then the variance of the amount paid by the insurance policy equals __________ (round off to 2 decimal places)
Updated On: Oct 1, 2024
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Correct Answer: 0.17
Solution and Explanation
The correct answer is 0.17 to 0.19.(approx)
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