(Solved): An Individual Who Has Automobile Insurance From A Certain Company Is Randomly Selected. Let Y Be The ...
An individual who has automobile insurance from a certain company is randomly selected. Let Y be the number of moving violations for which the individual was cited during the last 3 years. The pmf of Y is the following. 1 0.25 2 0.10 3 0.05 y 0 p(y) 0.60 (a) Compute E(Y). E(Y) = (b) Suppose an individual with Y violations incurs a surcharge of $110Y. Calculate the expected amount of the surcharge. HA