A loss X on a car has a mixed distribution with p = 0.95 on zero and p = 0.05 on an
Chapter 3, Problem 3.4-13(choose chapter or problem)
A loss X on a car has a mixed distribution with p = 0.95 on zero and p = 0.05 on an exponential distribution with a mean of $5000. If the loss X on a car is greater than the deductible of $500, the difference X 500 is paid to the owner of the car. Considering zero (if X 500) as a possible payment, determine the mean and the standard deviation of the payment.
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