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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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Claims Distribution Question: Claims have mean $500, standard deviation $400 and are lonormally distributed. The insurance company purchases excess of loss (XL) reinsurance with retention level $800. Find: (A) The proportion of claims that will involve the reinsurer. (B) The expected claim size paid by the insurer. (C) The expected claim size paid by the reinsurer, for claims that involve the reinsurer. (D) The variance of claims paid by the insurer.
Transcribed Image Text:Claims Distribution Question: Claims have mean $500, standard deviation $400 and are lonormally distributed. The insurance company purchases excess of loss (XL) reinsurance with retention level $800. Find: (A) The proportion of claims that will involve the reinsurer. (B) The expected claim size paid by the insurer. (C) The expected claim size paid by the reinsurer, for claims that involve the reinsurer. (D) The variance of claims paid by the insurer.
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