The loss L due to a boat accident is exponentially distributed. Boat insurance policy A covers...
The loss L due to a boat accident is exponentially distributed. Boat insurance policy A covers up to 1 unit for each loss. Boat insurance policy B covers up to 2 units for each loss. The probability that a loss is fully covered under policy B is 1.9 times the probability that it is fully covered under policy A. Calculate the variance of L.
The answer is 100[2e^−0.1d −e^−0.2d]
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The loss L due to a boat accident is exponentially distributed.
Boat insurance policy A covers...
The loss L due to a boat accident is exponentially distributed. Boat insurance policy A covers...
The loss L due to a boat accident is exponentially distributed. Boat insurance policy A covers up to 1 unit for each loss. Boat insurance policy B covers up to 2 units for each loss. The probability that a loss is fully covered under policy B is 1.9 times the probability that it is fully covered under policy A. Calculate the variance of L. the answer is 90.7
7. An insurance policy is written to cover a loss X where X has density function...
7. An insurance policy is written to cover a loss X where X has density function f(x)x3 0 elsewhere The time T (in hours) to process a claim of size x, where 0 < x <3, is uniformly distributed on the interval from x/2 to 3x. Calculate the probability that a randomly chosen claim on this policy is processed in four hours or more. In a small metropolitan area, annual losses due to storm, fire, and theft are assumed to...
For a certain health insurance policy, losses are uniformly distributed on the interval [0, 450]. The...
For a certain health insurance policy, losses are uniformly distributed on the interval [0, 450]. The policy has a deductible of d and the expected value of the unreimbursed portion of a loss is 56. Calculate a (A) 60 (B) 87 (C) 112 (D) 169 (E) 224 27. A study of automobile accidents produced the following data: Probability of Model Proportion of involvement car 2014 2013 2012 Other all vehicles in an accident 0.16 0.18 0.20 0.46 0.05 0.02 0.03...
6) The loss, L, due to a grease fire at Danny's Diner follows an exp(.4) distribution. Determine ...
Don't do 6. 6 is here as a reference for 7 and 8. Thank you
6) The loss, L, due to a grease fire at Danny's Diner follows an exp(.4) distribution. Determine (1 < L< 4) a) .592 b).468 )427 d).384 e).340 e) .34 0 7) In (6), determine the probability that the insurance payout exceeds 3, given that the loss exceeds the policy deductible 1 a).225 b) .256 c).277 d).293 e) .301 8) In (6), determine E(payout). note: the...
A homeowners' policy will typically pay up to $500 per plant that is damaged by a...
A homeowners' policy will typically pay up to $500 per plant that is damaged by a covered peril. This is an example of: an aggregate dollar limit an open perils dollar limit C. a specific dollar limit a mixed dollar limit none of the above e. You purchase an annuity for which you will make one payment of $15,000 on your 50 birthday. The annuity will start paying you $400 a month on your 67" birthday until you die. What...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida,...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $50,000 of dam- age to the dwelling itself. Their ued at $20,000, was totally destroyed but did not contain a car at the time of the fire. Replacement of the Millers' personal property damaged in the home and garage amounted to $23,000....
69) A policy that pays you back for actual expenses is called A) An indemnity plan....
69) A policy that pays you back for actual expenses is called A) An indemnity plan. B) A deductible plan. C) A reasonable and customary plan. D) A reimbursement plan. E) A coinsurance plan m The set amount that you must pay toward medical expenses before the insurance company pays benefits is called A) Deductible. B) Reimbursement C) Indemnity. D) Internal limit. E) Reasonable and customary charges. 71) Which of the following is a government health care program? A) Health...
Scenario: Disability Insurance Claims Handling at InsureIT We consider the following business pro...
Scenario: Disability Insurance Claims Handling at InsureIT We consider the following business process for handling insurance claims for disability insurance[1] at an insurance company InsureIT. The process starts when a customer lodges a disability claim. To do so, the customer fills in a form including a 2-page questionnaire describing the disability. The customer can submit the form physically at one of the branches of InsureIT, by postal mail, fax or simply via e-mail (digitally-signed document). When a claim is received,...
8. Move on to the Accumulated Other Comprehensive Income/ (Loss) column. The total change is $407...
8. Move on to the Accumulated Other Comprehensive Income/ (Loss) column. The total change is $407 mil Comprehensive Income. To find the break-down of the $407 mil go to the Consolidated Statement of Comprehensive Income. Remember there are four items that are charged to Other I'll do the foreign currency translation adjustment Date Accounts Debit Credit Other comprehensive loss-foreign currency Payables-(accounts payable) 523 523 You do the marketable securities adjustment. (4 points) Date Accounts Debit Credit I'll take the derivatives...
please help with COS schedule, income statement, and variances. everything is completed and added for reference....
please help with COS schedule, income statement, and
variances. everything is completed and added for reference.
please complete the last 3 sections
View Help i SUBSCRIPTION EXPIRED To keep using Excel without interruption, please reactivate now. Reactivate H32 X : B for D A C E F G H I J K L M N O P Q 43 For simplicity, base all calculations using 30 days in each month OPERATIONAL DATA Grooming: The Groomer can groom 5 dogs a...
7. An insurance policy is written to cover a loss X where X has density function f(x)x3 0 elsewhere The time T (in hours) to process a claim of size x, where 0 < x <3, is uniformly distributed on the interval from x/2 to 3x. Calculate the probability that a randomly chosen claim on this policy is processed in four hours or more. In a small metropolitan area, annual losses due to storm, fire, and theft are assumed to...
For a certain health insurance policy, losses are uniformly distributed on the interval [0, 450]. The policy has a deductible of d and the expected value of the unreimbursed portion of a loss is 56. Calculate a (A) 60 (B) 87 (C) 112 (D) 169 (E) 224 27. A study of automobile accidents produced the following data: Probability of Model Proportion of involvement car 2014 2013 2012 Other all vehicles in an accident 0.16 0.18 0.20 0.46 0.05 0.02 0.03...
Don't do 6. 6 is here as a reference for 7 and 8. Thank you
6) The loss, L, due to a grease fire at Danny's Diner follows an exp(.4) distribution. Determine (1 < L< 4) a) .592 b).468 )427 d).384 e).340 e) .34 0 7) In (6), determine the probability that the insurance payout exceeds 3, given that the loss exceeds the policy deductible 1 a).225 b) .256 c).277 d).293 e) .301 8) In (6), determine E(payout). note: the...
A homeowners' policy will typically pay up to $500 per plant that is damaged by a covered peril. This is an example of: an aggregate dollar limit an open perils dollar limit C. a specific dollar limit a mixed dollar limit none of the above e. You purchase an annuity for which you will make one payment of $15,000 on your 50 birthday. The annuity will start paying you $400 a month on your 67" birthday until you die. What...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $50,000 of dam- age to the dwelling itself. Their ued at $20,000, was totally destroyed but did not contain a car at the time of the fire. Replacement of the Millers' personal property damaged in the home and garage amounted to $23,000....
69) A policy that pays you back for actual expenses is called A) An indemnity plan. B) A deductible plan. C) A reasonable and customary plan. D) A reimbursement plan. E) A coinsurance plan m The set amount that you must pay toward medical expenses before the insurance company pays benefits is called A) Deductible. B) Reimbursement C) Indemnity. D) Internal limit. E) Reasonable and customary charges. 71) Which of the following is a government health care program? A) Health...
8. Move on to the Accumulated Other Comprehensive Income/ (Loss) column. The total change is $407 mil Comprehensive Income. To find the break-down of the $407 mil go to the Consolidated Statement of Comprehensive Income. Remember there are four items that are charged to Other I'll do the foreign currency translation adjustment Date Accounts Debit Credit Other comprehensive loss-foreign currency Payables-(accounts payable) 523 523 You do the marketable securities adjustment. (4 points) Date Accounts Debit Credit I'll take the derivatives...
please help with COS schedule, income statement, and
variances. everything is completed and added for reference.
please complete the last 3 sections
View Help i SUBSCRIPTION EXPIRED To keep using Excel without interruption, please reactivate now. Reactivate H32 X : B for D A C E F G H I J K L M N O P Q 43 For simplicity, base all calculations using 30 days in each month OPERATIONAL DATA Grooming: The Groomer can groom 5 dogs a...
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