Problem Regarding Expected Value of Probability Density Function

[iamlks]

The loss amounts, X, have the following probability density function:
fX(x)=(5*(250^5))/((x+250)^6) , for x>0.

An insurance company pays out 80% of each loss that exceeds a deductible of 10 to the policyholder.

(a) Calculate the expected amount of each loss to be paid by the insurance company.
(b) What is the expected loss amount that would not be paid by the insurance
company?

 

[Deleted member 4993]

The loss amounts, X, have the following probability density function:
fX(x)=(5*(250^5))/((x+250)^6) , for x>0.

An insurance company pays out 80% of each loss that exceeds a deductible of 10 to the policyholder.

(a) Calculate the expected amount of each loss to be paid by the insurance company.
(b) What is the expected loss amount that would not be paid by the insurance
company?

The problem states:

The loss amounts, X, have the following probability density function:
fX(x)=(5*(250^5))/((x+250)^6) , for x>0.

What does X(x) mean? What is the difference between x and X?

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