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Mathematics, 03.04.2021 05:50 Tooey6225

In any​ year, the weather can inflict storm damage to a home. From year to​ year, the damage is random. Let Y denote the dollar value of damage in any given year. Suppose that in 95​% of the years Y​ = ​$0​, but in 5​% of the years Y ​= ​$20,000. A. The mean of the damage in any year is ​$__. nothing. The standard deviation of the damage in any year is ​$.
B. Consider an​ "insurance pool" of 100 people whose homes are sufficiently dispersed so​ that, in any​ year, the damage to different homes can be viewed as independently distributed random variables. Let barY denote the average damage to these 100 homes in a year. The expected value of the average damage barY, is ​$. The probability that exceeds ​$is.

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In any​ year, the weather can inflict storm damage to a home. From year to​ year, the damage is rand...
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