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23. The data in Table 5.11 give the aggregate claims for household damage insurance in six successive years by four separate (regional) groups of policyholders. Assume that the claim amounts have been adjusted to remove any effect of inflation and that the unit of money is millions of dollars. Using empirical Bayes credibility Model 1, calculate estimates of the pure premiums for the coming year for each of the regions. PROBLEMS TABLE 5.11 Household damage claims. Year 1 2 3 4 5 6 Region A 206 146 271 178 136 162 B 144 284 310 218 266 301 C 64 57 43 97 132 110 Ꭰ 204 186 248 222 188 204 189

23. The data in Table 5.11 give the aggregate claims for household damage insurance in six successive years by four separate (regional) groups of policyholders. Assume that the claim amounts have been adjusted to remove any effect of inflation and that the unit of money is millions of dollars. Using empirical Bayes credibility Model 1, calculate estimates of the pure premiums for the coming year for each of the regions. PROBLEMS TABLE 5.11 Household damage claims. Year 1 2 3 4 5 6 Region A 206 146 271 178 136 162 B 144 284 310 218 266 301 C 64 57 43 97 132 110 Ꭰ 204 186 248 222 188 204 189

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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23. The data in Table 5.11 give the aggregate claims for household damage insurance in six successive years by four separate (regional) groups of policyholders. Assume that the claim amounts have been adjusted to remove any effect of inflation and that the unit of money is millions of dollars. Using empirical Bayes credibility Model 1, calculate estimates of the pure premiums for the coming year for each of the regions. PROBLEMS TABLE 5.11 Household damage claims. Year 1 2 3 4 5 6 Region A 206 146 271 178 136 162 B 144 284 310 218 266 301 C 64 57 43 97 132 110 Ꭰ 204 186 248 222 188 204 189
Transcribed Image Text:23. The data in Table 5.11 give the aggregate claims for household damage insurance in six successive years by four separate (regional) groups of policyholders. Assume that the claim amounts have been adjusted to remove any effect of inflation and that the unit of money is millions of dollars. Using empirical Bayes credibility Model 1, calculate estimates of the pure premiums for the coming year for each of the regions. PROBLEMS TABLE 5.11 Household damage claims. Year 1 2 3 4 5 6 Region A 206 146 271 178 136 162 B 144 284 310 218 266 301 C 64 57 43 97 132 110 Ꭰ 204 186 248 222 188 204 189
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