Question

Question 7 10 pts The weekly demand for a drinking-water product, in thousands of liters at Costco due to the coronavirus (COVID-19), is a continuous random variable X having the probability density: $\begin{cases} k(x+1)^2, & 1 \le x \le 2\\ 0, & \text{elsewhere} \end{cases}$ a) The mean is thousands of liters(s). (Round to two decimal places as needed.) b) The standard deviation is thousands of liters(s). (Round to two decimal places as needed.) Question 8 6 pts Assume a life insurance company sells a $500,000 one-year term life insurance policy to Mr. Pineda's 37-year-old wife for $450. The probability that Mr. Pineda's wife survives the year is 0.999628. Compute and interpret the expected value of this policy to the insurance company. The insurance company expects to make an average profit of $ $\text{on every 37-year-old female it insures for 1 year.}$

          Question 7
10 pts
The weekly demand for a drinking-water product, in thousands of liters at Costco
due to the coronavirus (COVID-19), is a continuous random variable X having the
probability density:
$\begin{cases} k(x+1)^2, & 1 \le x \le 2\\ 0, & \text{elsewhere} \end{cases}$
a) The mean is
thousands of liters(s). (Round to two decimal
places as needed.)
b) The standard deviation is
thousands of liters(s). (Round to two
decimal places as needed.)
Question 8
6 pts
Assume a life insurance company sells a $500,000 one-year term life insurance
policy to Mr. Pineda's 37-year-old wife for $450. The probability that Mr. Pineda's
wife survives the year is 0.999628.
Compute and interpret the expected value of this policy to the insurance company.
The insurance company expects to make an average profit of $
$\text{on every 37-year-old female it insures for 1 year.}$

Question 7
10 pts
The weekly demand for a drinking-water product, in thousands of liters at Costco
due to the coronavirus (COVID-19), is a continuous random variable X having the
probability density:
k(x+1)^2, 1 ≤ x ≤ 2
0, elsewhere
a) The mean is
thousands of liters(s). (Round to two decimal
places as needed.)
b) The standard deviation is
thousands of liters(s). (Round to two
decimal places as needed.)
Question 8
6 pts
Assume a life insurance company sells a 500,000 one-year term life insurance
policy to Mr. Pineda's 37-year-old wife for450. The probability that Mr. Pineda's
wife survives the year is 0.999628.
Compute and interpret the expected value of this policy to the insurance company.
The insurance company expects to make an average profit of on every 37-year-old female it insures for 1 year.

Added by Natalie C.

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