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12. (5 marks) A company issues year end bonuses as a percentage of the mean annual salary of $50,000. The percentages are distributed according to the following density y , 0 , otherwise f(y)- If the company employs 6 individuals, what is the expected value of the largest bonus?

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annual salary is $50000 n=6 Given Mean pdf is f(y) - szy ok y L1 otherwise. E(T) = Jy (24) dy = z[]. - 2[5-o] Expected value

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