Exam P Practice Question 8
Study guide: Exam P-1
The time X, in years, from when a claim is reported until it is settled has distribution function
F(x) = \begin{cases}
0, & x < 0 \\
\dfrac{x^2}{16}, & 0 \le x \le 4 \\
1, & x > 4
\end{cases}Calculate the expected time to settlement.
- A) 1.33
- B) 2.67
- C) 2.83
- D) 3.00
- E) 4.00
Answer this question and see the worked solution
Concepts tested
- Continuous Random Variable
- Cumulative Distribution Function (CDF)
- Probability Density Function (PDF)
- Expected Value