Differential Equations
Differential Equations
4th Edition
ISBN: 9780495561989
Author: Paul Blanchard, Robert L. Devaney, Glen R. Hall
Publisher: Cengage Learning
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The University of the West Indies Open Campus ECON2016 Mathematical Methods of Economics II Final Assessment Instructions: Answer ALL the questions. Show all working 1. Solve the following Differential Equations a) dy = x²-1; y(-1) = 1 dx y²+1 dy b) d x + 2y = 3; dx c) dy-4y = 4y² dt d) 6dzy dx² dy -5+ y = 0; y(0) = 4 y'(0) = 0 dx [6] [5] [5] [6]
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.
Answer questions 8.1.13 and 8.2.10 respectively
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