Elementary Differential Equations and Boundary Value Problems, Enhanced
11th Edition
ISBN: 9781119381648
Author: Boyce
Publisher: WILEY
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Chapter 11.2, Problem 1P
To determine
The normalized eigenfunctions of the problem
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Choose a classmate's Main Post and review their decision making process.
1. Choose a risk level for each of the states of nature (assign a probability
value to each).
2. Explain why each risk level is chosen.
3. Which alternative do you believe would be the best based on the maximum
EMV?
4. Do you feel determining the expected value with perfect information
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Questions
An insurance company's cumulative incurred claims for the last 5 accident years are given
in the following table:
Development Year
Accident Year 0
2018
1 2 3 4
245 267 274 289 292
2019
255 276 288 294
2020
265 283 292
2021
263 278
2022
271
It can be assumed that claims are fully run off after 4 years. The premiums received for
each year are:
Accident Year Premium
2018
306
2019
312
2020
318
2021
326
2022
330
You do not need to make any allowance for inflation.
1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method.
(b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method.
2. Comment on the differences in the reserves produced by the methods in Part 1.
Chapter 11 Solutions
Elementary Differential Equations and Boundary Value Problems, Enhanced
Ch. 11.1 - Prob. 1PCh. 11.1 - Prob. 2PCh. 11.1 - Prob. 3PCh. 11.1 - Prob. 4PCh. 11.1 - Prob. 5PCh. 11.1 - Prob. 6PCh. 11.1 - Prob. 7PCh. 11.1 - Prob. 8PCh. 11.1 - Prob. 9PCh. 11.1 - Prob. 10P
Ch. 11.1 - Prob. 11PCh. 11.1 - Prob. 12PCh. 11.1 - Prob. 13PCh. 11.1 - Prob. 14PCh. 11.1 - Prob. 15PCh. 11.1 - Prob. 16PCh. 11.1 - Prob. 17PCh. 11.1 - Prob. 18PCh. 11.1 - Prob. 19PCh. 11.1 - Prob. 20PCh. 11.1 - Prob. 21PCh. 11.1 - Prob. 22PCh. 11.1 - Prob. 23PCh. 11.1 - Prob. 24PCh. 11.1 - Prob. 25PCh. 11.2 - Prob. 1PCh. 11.2 - Prob. 2PCh. 11.2 - Prob. 3PCh. 11.2 - Prob. 4PCh. 11.2 - Prob. 5PCh. 11.2 - Prob. 6PCh. 11.2 - Prob. 7PCh. 11.2 - Prob. 8PCh. 11.2 - Prob. 9PCh. 11.2 - Prob. 10PCh. 11.2 - Prob. 11PCh. 11.2 - Prob. 12PCh. 11.2 - Prob. 13PCh. 11.2 - Prob. 14PCh. 11.2 - Prob. 15PCh. 11.2 - Prob. 16PCh. 11.2 - Prob. 17PCh. 11.2 - Prob. 18PCh. 11.2 - Prob. 19PCh. 11.2 - Prob. 20PCh. 11.2 - Prob. 21PCh. 11.2 - Prob. 22PCh. 11.2 - Prob. 23PCh. 11.2 - Prob. 24PCh. 11.2 - Prob. 25PCh. 11.2 - Prob. 26PCh. 11.2 - Prob. 27PCh. 11.2 - Prob. 28PCh. 11.3 - Prob. 1PCh. 11.3 - Prob. 2PCh. 11.3 - Prob. 3PCh. 11.3 - Prob. 4PCh. 11.3 - Prob. 5PCh. 11.3 - Prob. 6PCh. 11.3 - In each of Problems 6 through 9, determine a...Ch. 11.3 - Prob. 8PCh. 11.3 - Prob. 9PCh. 11.3 - Prob. 10PCh. 11.3 - Prob. 11PCh. 11.3 - Prob. 12PCh. 11.3 - Prob. 13PCh. 11.3 - Prob. 14PCh. 11.3 - Prob. 15PCh. 11.3 - Prob. 16PCh. 11.3 - Prob. 17PCh. 11.3 - Prob. 18PCh. 11.3 - Prob. 19PCh. 11.3 - Prob. 20PCh. 11.3 - Prob. 21PCh. 11.3 - Prob. 22PCh. 11.3 - Prob. 23PCh. 11.3 - Prob. 24PCh. 11.3 - Prob. 25PCh. 11.3 - Prob. 26PCh. 11.3 - Prob. 27PCh. 11.3 - Prob. 28PCh. 11.3 - Prob. 29PCh. 11.3 - Prob. 30PCh. 11.3 - Prob. 31PCh. 11.3 - Prob. 32PCh. 11.3 - Prob. 33PCh. 11.3 - Prob. 34PCh. 11.3 - Prob. 35PCh. 11.3 - Prob. 36PCh. 11.4 - Prob. 1PCh. 11.4 - Prob. 2PCh. 11.4 - Prob. 3PCh. 11.4 - Prob. 4PCh. 11.4 - Prob. 5PCh. 11.5 - Prob. 1PCh. 11.5 - Prob. 2PCh. 11.5 - Prob. 3PCh. 11.5 - Prob. 4PCh. 11.5 - Prob. 5PCh. 11.5 - Prob. 6PCh. 11.5 - Prob. 7PCh. 11.5 - Prob. 8PCh. 11.5 - Prob. 9PCh. 11.5 - Prob. 10PCh. 11.6 - Prob. 1PCh. 11.6 - Prob. 2PCh. 11.6 - Prob. 3PCh. 11.6 - Prob. 4PCh. 11.6 - Prob. 5PCh. 11.6 - Prob. 6PCh. 11.6 - Prob. 7PCh. 11.6 - Prob. 8PCh. 11.6 - Prob. 9PCh. 11.6 - Prob. 10PCh. 11.6 - Prob. 11PCh. 11.6 - Prob. 12PCh. 11.6 - Prob. 13P
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