A medical insurance policy has a deductible of $1000 per year. The distribution of medical expenses...
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A medical insurance policy has a deductible of $1000 per year. The distribution of medical expenses in dollars is f(x)=, for x > 100, where C is a constant, and zero otherwise. Calculate the expected amount of benefit the policy pays. A medical insurance policy has a deductible of $1000 per year. The distribution of medical expenses in dollars is f(x)=, for x > 100, where C is a constant, and zero otherwise. Calculate the expected amount of benefit the policy pays.
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To calculate the expected amount of benefit the policy pays we need to find the expected value of th... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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