1) "In (2 less than X less than 8), X is a "

a) continuous random variable

b) discrete random variable

c) no variable

d) constant

2) "A life insurance company will sell a Rs 3000,000 one year term life insurance policy to an individual in a particular risk group for a premium of Rs 300,000. Find the expected value to the company of a single policy if a person in this risk group has 90.5% chance of surviving one year."

a) 750

b) 790

c)-450

d) -300

3) "Find the variance of f(x), where f(x) = 6X+6. The probability distribution of a random variable X ; if X = 8, 10, 11, 12, 13 and P(X) = 0.2, 0.25, 0.3, 0.15, 0.1 respectively"

a) 11

b) 37.5

c) 42

d) 84.6

4) "Find the expectation of a random variable X? if X = 12, 14, 15, 16, 17, and P(X) = 0.2, 0.25, 0.3, 0.15, 0.1 respectively"

a) 11.5

b) 4.5

c) 14.5

d) 9.5