Homework Help Question & Answers

Let X and Y denote the remaining lifetimes of a husband and wife. Assume that the remaining lifet...

Let X and Y denote the remaining lifetimes of a husband and wife. Assume that the remaining lifetime of each person has an ex

Let X and Y denote the remaining lifetimes of a husband and wife. Assume that the remaining lifetime of each person has an exponential distribution with mean λ and that the remaining lifetimes are independent. An insurance company offers two products to married couples: One which pays when the first spouse dies, that is, at time min(X,Y), and one which pays when the second spouse dies, that is, at time max(X,Y). Calculate the covariance between the two payment timers.
0 0
Next > < Previous
ReportAnswer #1

pC. Х>1 ) , p(y>uỳ@> 1 = - 24 Fuu) E(U): 호26-a2) 6cov (UN) --ㄧㄧㄨㄧ

Know the answer?
Add Answer of:
Let X and Y denote the remaining lifetimes of a husband and wife. Assume that the remaining lifet...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • stats

    Suppose the remaining lifetimes of a husband and wife are independently and uniformly distributed on the interval [0, 40]. An insurance company offers two products tomarried couples:One which pays when the husband dies.One which pays when both the husband and wife have died.Calculate the covariance of the two payment times.

  • 14. Spousal Insurance Policies. Consider two alternatives insuring the lives of two part ners: ( ...

    14. Spousal Insurance Policies. Consider two alternatives insuring the lives of two part ners: ( individual policies for each spouse paying 2 at each death time (so buy 2 individ- ual policies). (ii) a spousal policy that pays B when the first spouse dies. The present values of () and (i) are zX+2RY and Z2 - Be-r, respectively, where X and Y are the remaining lifetimes of the two insureds (in years), T min(X, Y) is the first death time...

  • . Jan wins, ue OTCS LICO. 6.127 Consider two identical electrical components. Let X and Y denote the respective lifetim...

    . Jan wins, ue OTCS LICO. 6.127 Consider two identical electrical components. Let X and Y denote the respective lifetimes of the two components observed at discrete time units (e.g.,every hour). Assume that the joint PMF of X and Y is px.y(x, y) = p (1 - p)*+-2 if x, y e N, and px.Y(x, y) 0 otherwise, where O <p< l. Use the FPF for two discrete random variables to determine the probability that one of the components lasts...

  • Consider two random variables, X and Y. Let E(X) and E(Y) denote the population means of...

    Consider two random variables, X and Y. Let E(X) and E(Y) denote the population means of X and Y respectively. Further, let Var(X) and Var(Y) denote the population variances of X and Y. Consider another random variable that is a linear combination of X and Y Z- 3X- Y What is the population variance of Z? Assume that X and Y are independent, which is to say that their covariance is zero.

  • Q6. The lifetimes of two components in a machine have the following joint pdf: f(x, y).00-x...

    Q6. The lifetimes of two components in a machine have the following joint pdf: f(x, y).00-x y) for 0<50-y < 50 and zero elsewhere a. What is the probability that both components are functioning 20 months from now. b. What is the probability the component with life time X would fail 3 months before the other one? c. Compute the covariance of X, Y d. Compute the expected life of the machine e. What is probability that the two components...

  • 5. Lec 17 function of pairs of R.V., 8 pts) Let X be the lifetime of a critical and expensive com...

    5. Lec 17 function of pairs of R.V., 8 pts) Let X be the lifetime of a critical and expensive component in a system, which is exponentially distributed with mean 2 years. The system also has a cheaper backup component that can take over when the expensive component fails so that the system can provide continuous service while the more expensive system is being repaired. Let Y be the lifetime of the backup system, which is also exponentially distributed but...

  • Return to the original model. We now introduce a Poisson intensity parameter X for every time point and denote the parameter () that gives the canonical exponential family representation as above by...

    Return to the original model. We now introduce a Poisson intensity parameter X for every time point and denote the parameter () that gives the canonical exponential family representation as above by θ, . We choose to employ a linear model connecting the time points t with the canonical parameter of the Poisson distribution above, i.e., n other words, we choose a generalized linear model with Poisson distribution and its canonical link function. That also means that conditioned on t,...

  • and Y ~ Geometric - 4 Let X ~ Geometric We assume that the random variables X and Y are statistically independent. Answer the following questions: a (3 marks) For all x E 10,1,2,...^, show that 2+1 P...

    and Y ~ Geometric - 4 Let X ~ Geometric We assume that the random variables X and Y are statistically independent. Answer the following questions: a (3 marks) For all x E 10,1,2,...^, show that 2+1 P(X>x) P(x (3 = Similarly, for all y [0,1,2,...^, show that Show your working only for one of the two identities that are pre- sented above. Hint: You may use the following identity without proving it. For any non-negative integer (, we have:...

  • Find the concepts, Analyze this article related to sociological view of social institutions,...

    Summary for half page please.( sociological view like conflict between religions and "NORM")And please Find the concepts, Analyze this article related to sociological view of social institutions, functionalist view, conflict view,interactionist view.Summary( 30%)Find the concepts(20%)(role, ascribed and achieved status)Analyze this articlerelated to sociological view of social institutions(50%)(use one view,functionalist view, conflict view, interactionist view)This essay was just B grade.'Disabled' woman seeking alimony revealed to be belly dancer.A "disabled" Staten Island woman's quest for lifetime maintenance from herhusband went belly up...

  • I Need Help With My Homework! "Interpersonal Communication"

    TRUE/FALSE (3pts. each)1. In the Involvement stage of the Six Stage Model, testing and intensifying take place.2. In the Deterioration stage of the Six Stage Model, there is a decline inself-disclosure.3. The first phase of the Repair stage is intrapersonal repair.4 Relationships almost always move in one direction through the five stages.5. Preventing a partner from working or attending college is not defined as emotionalabuse.6. Receptivity is characterized by a comfortable and positive imbalance in the givingand receiving of rewards.7....

Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
Share Your Knowledge

Post an Article
Post an Answer
Post a Question with Answer

Self-promotion: Authors have the chance of a link back to their own personal blogs or social media profile pages.