EBK DISCRETE MATHEMATICS: INTRODUCTION
11th Edition
ISBN: 9781133417071
Author: EPP
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Hello! Please solve this practice problem step by step thanks!
PEER REPLY 1:
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
(EVWPI) is worthwhile in this situation? Why or why not?
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.
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- Hello, I would like step by step solution on this practive problem please and thanks!arrow_forwardHello! Please Solve this Practice Problem Step by Step thanks!arrow_forwardCan you help me with this problem using linear recurrance: Find an explicit formula for the recurrence relation an = 2can−1 + 3c2an−2 where c not equal to 0 with initial conditions a0=4c and a1 = 0arrow_forward
- Can you help me solved this problem using generalized combination:How many combinations are there to pick r objects from 2n objects numbered from 1to 2n when repetitions are allowed and at least one object of odd type does not appear?arrow_forwardNarrow_forward1. Given that h(t) = -5t + 3 t². A tangent line H to the function h(t) passes through the point (-7, B). a. Determine the value of ẞ. b. Derive an expression to represent the gradient of the tangent line H that is passing through the point (-7. B). c. Hence, derive the straight-line equation of the tangent line H 2. The function p(q) has factors of (q − 3) (2q + 5) (q) for the interval -3≤ q≤ 4. a. Derive an expression for the function p(q). b. Determine the stationary point(s) of the function p(q) c. Classify the stationary point(s) from part b. above. d. Identify the local maximum of the function p(q). e. Identify the global minimum for the function p(q). 3. Given that m(q) = -3e-24-169 +9 (-39-7)(-In (30-755 a. State all the possible rules that should be used to differentiate the function m(q). Next to the rule that has been stated, write the expression(s) of the function m(q) for which that rule will be applied. b. Determine the derivative of m(q)arrow_forward
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