*An actuary determines that the claim size for a certain class of ac- cidents is a random variable, X, with moment generating function Mx(t) = (1–2,500 t)~4. Determine the standard deviation of the claim size for this class of accidents. (5,000)

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.