The Function That May Be Used to Find the Probability

question 114

Multiple Choice

The function that may be used to find the probability that the random variable falls within a specific range is called the:

• A)expected value.
• B)uniform distribution.
• C)probability density function.
• D)linear function.

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions, intended to harmonize the law of sales and other commercial agreements within the United States.

Underwriter

In insurance law, the insurer, or the one assuming a risk in return for the payment of a premium.

Premium

The amount paid for an insurance policy, reflecting the cost of coverage.

Insurable Interest

An interest either in a person’s life or well-being or in property that is sufficiently substantial to justify insuring against injury to or death of the person or damage to the property.