SOA Exam P Sample Question 61
Study guide: Exam P-1
An insurance policy reimburses dental expense, X, up to a maximum benefit of 250. The probability density function for X is:
f(x) = \begin{cases} ce^{-0.004x}, & x \ge 0 \\ 0, & \text{otherwise} \end{cases}
where c is a constant.
Calculate the median benefit for this policy.
- A) 161
- B) 165
- C) 173
- D) 182
- E) 250
Answer this question and see the worked solution