4.9: Expected Value of Random Variables | Exercise Solution of Probability & Statistics by Walpole
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- Опубликовано: 22 авг 2024
- This is the exercise problems solution of the 9th edition of"Probability and Statistics for Engineers and Scientists by Walpole". In this video, I solve exercise problem 4.9 to find the expected value or average value of a random variable.
4.9: A private pilot wishes to insure his airplane for $200,000. The insurance company estimates that a total loss will occur with probability 0.002, a 50% loss with probability 0.01, and a 25% loss with probability 0.1. Ignoring all other partial losses, what premium should the insurance company charge each year to realize an average profit of $500?
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Happy Learning :-)
well explained👍
kindly post next parts of chapter 4 and also post chapter 5. your videos are best than all on internet
Sure sir, thank you
Kindly make vedios for chapter 4 and 5 complete, thanks
Sir chapte 5
Soon after it sir