2 OF 5 QUESTIONS REMAINI: 2.A random variable, Claim amount (), in ten thousand Rand, has...

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2 OF 5 QUESTIONS REMAINI: 2.A random variable, Claim amount (), in ten thousand Rand, has probability distribution given by: C 4 8 12 16 20 24 28 32 32 36 40 40 44 48 0.01 0.03 0.03 0.05 p(c) 0.01 0.02 0.02 0.05 0.04 0.05 0.03 0.04 3 3 6 7 C 52 12 56 60 64 +9 68 72 22 76 76 80 88 84 88 22 92 96 96 100 0.03 0.03 0.04 p(c) 0.05 0.07 0.06 0.04 0.05 0.03 0.06 0.02 0.03 0.07 3 6 Calculate: a. The expected claim amount (in Rand value) Blank 1 b. The standard deviation in claim amount (in Rand value). Interpret in terms of Rand Blank 2 2 OF 5 QUESTIONS REMAINI: 2.A random variable, Claim amount (), in ten thousand Rand, has probability distribution given by: C 4 8 12 16 20 24 28 32 32 36 40 40 44 48 0.01 0.03 0.03 0.05 p(c) 0.01 0.02 0.02 0.05 0.04 0.05 0.03 0.04 3 3 6 7 C 52 12 56 60 64 +9 68 72 22 76 76 80 88 84 88 22 92 96 96 100 0.03 0.03 0.04 p(c) 0.05 0.07 0.06 0.04 0.05 0.03 0.06 0.02 0.03 0.07 3 6 Calculate: a. The expected claim amount (in Rand value) Blank 1 b. The standard deviation in claim amount (in Rand value). Interpret in terms of Rand Blank 2