Actuarial Notes

SOA Exam P Sample Question 373

Study guide: Exam P-1

In a particular contract, there are two options available for each of two sections A and B. If X is the number of options selected for section A and Y is the number of options selected for section B, then the joint probability function of X and Y is

p(x,y) = \begin{cases}
\dfrac{x+y+2}{36}, & \text{for } x = 0, 1, 2 \text{ and } y = 0, 1, 2 \\
0, & \text{otherwise.}
\end{cases}

Calculate the variance of X.

  • A) 0.56
  • B) 0.64
  • C) 0.83
  • D) 2.00
  • E) 3.36

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