Question: Please show the work thank you ! Problem 2.4 (10 points) A health insurance Will pay for large medical expenses that are over $200. Nothing

Please show the work thank you ! Problem 2.4 (10 points)

Please show the work thank you !

Problem 2.4 (10 points) A health insurance Will pay for large medical expenses that are over $200. Nothing is paid if the expense is below $200. Assume that the amount of the expense is exponentially distributed with mean $600. Find the expectation and standard deviation of the payout by the insurance company

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