Mathematics, 07.07.2021 02:30 helppppp3548
An automobile insurance company issues a one-year policy with a deductible of 500. The probability is 0.8 that the insured automobile has no accident and 0.0 that the automobile has more than one accident. If there is an accident, the loss before application of the deductible is exponentially distributed with mean 3000. Calculate the 95th percentile of the insurance company payout on this policy.
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An automobile insurance company issues a one-year policy with a deductible of 500. The probability i...
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