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Problem: Kevin lives in an apartment, if a theft happens, insurance company will reimburse his lost. The amount it pays for theft claims varies evenly from $100 to $3500 depending on the value.

Required:

Question 1: What's the probability that Kevin gets paid between $500 ad $1275 for a theft? Whats the distribution and parameters.

Question 2: If Kevin gets paid at least $1800, whats the probability that he gets paid more than $2400?

Question 3: Whats the first quartile of the amounts the insurance pays?

Question 4: What is the standard deviation of the amounts the insurance pays?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91809896
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