An individual who has automobile insurance from a company is randomly selected. Let Y be the number of moving violations for which the individual was cited during the last 3 years. The pmf of Y is (a) Compute E(Y). (b) Suppose an individual with Y violations incurs a surcharge of $100Y2 . Calculate the expected amount of the surcharge. Refer to Exercise 12 and calculate Var(Y) and sY. Then determine the probability that Y is within 1 standard deviation of its mean value.
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