[4c-04] an insurance policy reimburses a loss with a deductible of 5. that is, if a loss is less than 5, policy will pay zero. if it is more than 5, then the policy will pay (loss - 5). the policyholder's loss, y, follows a distribution with density function: f(y) = 2y^-3 for 1 < y and 0 otherwise what is the expected value of the benefit paid under the insurance policy? (use 2 decimals)

-3

Step-by-step explanation:

Given that an  insurance policy reimburses a loss with a deductible of 5. That is, if a loss is less than 5, policy will pay zero. If it is more than 5, then the policy will pay (loss - 5).

We have distribution of y as

expected value of the benefit paid under the insurance policy

=, by linearity property of expectation.

Hence expected value of the benefit paid under the insurance policy

=2-5 =-3

walter needs to make at least 5 more cookies but no more than 40. 5 ≥ x ≥ 40;

step-by-step explanation:

walter has to make a minimum of 20 cookies. he already has 15 cookies made, so he must make 5 more to meet the minimum.

the maximum amount of cookies he can make is 55. he already has 15, so he has to make no more than 40 more cookies to meet the maximum.