(1)Losses for each employee of a given policyholder are independent and have a commonmean and variance.(ii)The overall average loss per employee for all policyholders is 20.(iii)The variance of the hypothetical means is 40.(iv)The expected value of the process variance is 8000.(v)The following experience is observed for a randomly selected policyholder:Average Loss perEmployee15Number ofYearEmployees8001210600400Determine the Bühlmann-Straub credibility premium per employee for this policyholder.(A)Less than 10.5(В)At least 10.5, but less than 11.5(C)At least 11.5, but less than 12.5(D)At least 12.5, but less than 13.5(E)At least 13.5

Answered: Image /qna-images/answer/1638c2b5-c33e-48fc-8dc5-08298b312d2a.jpg

Answered: i) Losses for each employee of a given…

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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c) A research conducted by SSTA022 Class representative at the University of Limpopo indicates that running increases the lifespan among African men. The mean lifespan of 31 African men runners was 34.0% more than the mean lifespan of 31 inactive African men, with variances reported to be 110.25% and 104.04%, respectively. Assuming the populations to be approximately normally distributed with equal variances. i) Can you conclude that there is a significant increase in the lifespan of the men runners over the inactive men at a = 0.05? (6)
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