An insurance policy for water damage pays an amount of damage up to $450. The amount of damage is uniformly distributed between $250 and $1,250. The amount of damage exceeding $450 is covered by a supplement policy up to $500. Let the random variable Y be the amount of damage paid by the supplement policy. What are the expected value and the probability distribution function of Y?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here