Answered: 4. On an insurance coverage, loss size… | bartleby

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 31PPS

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4. On an insurance coverage, loss size has the following distribution:
(2000) ³
F(x) = 1-
* 2 2000.
The number of claims has a negative binomial distribution with mean 0.3, variance
0.6. Claim counts and loss sizes are independent.
A deductible of 2000 is applied to
each claim.
Calculate the variance of aggregate payments.

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