A certain insurance company sells an home and auto insurance policy that covers losses incurred by a policy holder, subject to a deductible of $244. Losses incurred follow an exponential distribution with a mean of $443. Find the 80 percentile of the actual losses that exceed the deductible.

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08-07-2024
Physics

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A certain insurance company sells an home and auto insurance policy that covers losses incurred by a policy holder, subject to a deductible of $244. Losses incurred follow an exponential distribution with a mean of $443. Find the 80 percentile of the actual losses that exceed the deductible.

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