The following is question from the sample SOA questions.

The question was:

An insurance policy reimburses dental expense, X, up to a maximum benefit of 250. The probability density function for X is: f(x) = ce^-0.004x for x>=0, o o.w

where c is a constant. Find the median benefit for this policy.

When I looked at the solution there was no place where they used the fact that the max benefit was 250. They simply integrated from 0-->m(f(x)). How would the solution to this question change so that we had to use the max benefit.

Thank you.

The question was:

An insurance policy reimburses dental expense, X, up to a maximum benefit of 250. The probability density function for X is: f(x) = ce^-0.004x for x>=0, o o.w

where c is a constant. Find the median benefit for this policy.

When I looked at the solution there was no place where they used the fact that the max benefit was 250. They simply integrated from 0-->m(f(x)). How would the solution to this question change so that we had to use the max benefit.

Thank you.

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