38. An insurance policy pays for a random loss X subject to a deductible of C, where 0< C< 1 . The l
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38. An insurance policy pays for a random loss X subject to a deductible of C, where 0< C< 1 . The loss amount is modeled as a continuous random variable with density function
Given a random loss X, the probability that the insurance payment is less than 0.5 is equal to 0.64. Calculate C. (A) 0.1 (B) 0.3 (C) 0.4 (D) 0.6 (E) 0.8