Losses follow a mixture distribution. There is a 30% chance of 0 claims. Given the claims are greater than 0, they are uniformly distributed on (100,1000). Your insurance has a deductible of 250 and a coinsurance rate of 80%. Coinsurance applies after the deductible. Calculate the variances of the amount paid per loss and per payment. [39,375 , 39,900]

Losses follow a mixture distribution. There is a 30% chance of 0 claims. Given the claims are greater than 0, they are uniformly distributed on (100,1000). Your insurance has a deductible of 250 and a coinsurance rate of 80%. Coinsurance applies after the deductible. Calculate the variances of the amount paid per loss and per payment. [39,375 , 39,900]

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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