Question: Please provide steps and explanations for how you solved this problem. Suppose the life span of a particular (shoddy) server is a continuous random variable,

Please provide steps and explanations for how you solved this problem.

Please provide steps and explanations for how you solved this problem. Suppose

Suppose the life span of a particular (shoddy) server is a continuous random variable, 7, with a uniform probability distribution between 0 and 1 year. The server comes with a contract that guarantees you money if the server lasts less than 1 year. In particular, if the server lasts t years, the manufacturer will pay you 9(4) = $100(1 - 41/2. Let X = g( 7) be the random variable representing the payout from the contract. 1. (3 points) Compute the expected payout from the contract, AX) = Ag( 7)). Given the nature of the function, you might have to use integration by parts, or help from an integral solver

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