Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the dollar amount of damage involved in an automob

The dollar amount of damage involved in an automobile accident is an exponential random variable...

50.1K

Verified Solution

Question

Accounting

image

The dollar amount of damage involved in an automobile accident is an exponential random variable with mean 1000. Of this, the insurance company only pays that amount exceeding (the deductible amount of) 400. find the expected value of the amount that the insurance pays per accident if the distribution of the dollar amount of damage per accident is gamma (2, 1/500)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students