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Ⓡ (b) (6) For a frequency distribution in the (a, b, 0) class, you are given Pk = P(K = k) Pk = 0.0768 Pk+1=P-20.08192 Pk+3=0.0786432 Determine the mean of this distribution. Aggregate claim frequency for an employee dental coverage covering 10 individuals follows a negative binomial distribution with mean 2 and variance 5. Loss size has an exponential with mean 500. The group expands to 20 individuals and a deductible of 100 is imposed. Calculate the probability of 2 or more claims from the group after these revisions. On an auto collision coverage the number of claims per year ner individual has the

Ⓡ (b) (6) For a frequency distribution in the (a, b, 0) class, you are given Pk = P(K = k) Pk = 0.0768 Pk+1=P-20.08192 Pk+3=0.0786432 Determine the mean of this distribution. Aggregate claim frequency for an employee dental coverage covering 10 individuals follows a negative binomial distribution with mean 2 and variance 5. Loss size has an exponential with mean 500. The group expands to 20 individuals and a deductible of 100 is imposed. Calculate the probability of 2 or more claims from the group after these revisions. On an auto collision coverage the number of claims per year ner individual has the

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question 4 (b) For a frequency distribution in the (a, b, 0) class, you are given Pk = P(K=k) P = 0.0768 Pk+1=P-20.08192 Pk+3=0.0786432 Determine the mean of this distribution. Aggregate claim frequency for an employee dental coverage covering 10 individuals follows a negative binomial distribution with mean 2 and variance 5. Loss size has an exponential with mean 500. The group expands to 20 individuals and a deductible of 100 is imposed. Calculate the probability of 2 or more claims from the group after these revisions. (c) On an auto collision coverage, the number of claims per year per individual has the following distribution: P(0) = 0.7 P(1) = 0.2 P(2) = 0.1 Loss sizes are exponential distributed with mean 1200. An ordinary deductible of 500 is applied to each loss. Loss sizes and claim counts are independent. Calculate the probability the aggregate claim payments for a year will be greater than 100 using normal approximation.
Transcribed Image Text:Question 4 (b) For a frequency distribution in the (a, b, 0) class, you are given Pk = P(K=k) P = 0.0768 Pk+1=P-20.08192 Pk+3=0.0786432 Determine the mean of this distribution. Aggregate claim frequency for an employee dental coverage covering 10 individuals follows a negative binomial distribution with mean 2 and variance 5. Loss size has an exponential with mean 500. The group expands to 20 individuals and a deductible of 100 is imposed. Calculate the probability of 2 or more claims from the group after these revisions. (c) On an auto collision coverage, the number of claims per year per individual has the following distribution: P(0) = 0.7 P(1) = 0.2 P(2) = 0.1 Loss sizes are exponential distributed with mean 1200. An ordinary deductible of 500 is applied to each loss. Loss sizes and claim counts are independent. Calculate the probability the aggregate claim payments for a year will be greater than 100 using normal approximation.
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