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An insurance company models the number of claims filed by a policyholder under a vision care...
An insurance company issues 1250 vision care insurance policies. The number of claims filed by a...
An insurance company issues 1250 vision care insurance policies. The number of claims filed by a policyholder under a vision care insurance policy during one year is a random variable with u=2 and = 72. Assume the numbers of claims filed by different policyholders are mutually independent. Calculate the approximate probability that there is a total of between 2450 and 2600 claims during a one-year period?
An insurance company has issued 100 policies. The number of claims filed under each policy follows a Poisson distribution with a mean 2. Assuming that the claims filed by each policyholder are in...
An insurance company has issued 100 policies. The number of claims filed under each policy follows a Poisson distribution with a mean 2. Assuming that the claims filed by each policyholder are independent of each other, what is the approximate probability that more than 220 claims will be filed by the group of policyholders? B) 0.159 A) 0.079 C) 0.444 D) 0.556 E) 0.921 Question 2-20 An actuary is studying claim patterns in an insurer's book of business. He compiles...
Question 3-6 An insurance company each policy follows a Poisson distribution with a mean 3. has issued 75 policies. The number of claims filed under Assuming that the claims filed by each policyh...
Question 3-6 An insurance company each policy follows a Poisson distribution with a mean 3. has issued 75 policies. The number of claims filed under Assuming that the claims filed by each policyholder are independent of each other, what is the approximate probability that more than 250 claims will be filed by the group of policyholders? A) 0.048 B 0.168 C) 0.424 D) 0.576 E) 0.952 Question 3-7 650X and let X have the following probability density function: Let Y...
one with u = 5. An insurance company issues 1250 vision policies. The number of claims...
one with u = 5. An insurance company issues 1250 vision policies. The number of claims filed by a policyholder under a vision policy during year is a random Variable 2 and 6=52. Assume humber of claims filed by different policy holders are mutually independent, Calculate the approximate probability that there is a total of between 2450 and 2600 claims during a one year periode 6. the profit for a new product is given by..Z - 3X-Y-5 Jf Xand Y...
Annual claims filed by a policy holder of an insurance company have a Poisson distribution with...
Annual claims filed by a policy holder of an insurance company have a Poisson distribution with mean 0.4. The number of claims filed by two different policy holders are independent events. What is the probability that at least three out of ten policy holders each file at least one claim in a year?
An insurance company has determined that each week an average of 9 claims are filed. Assume...
An insurance company has determined that each week an average of 9 claims are filed. Assume that the claims are Poisson distributed. Find the probability that exactly 3 claims will be filed .0000 .0150 .1273 .0050 none of the above
Claims filed under auto insurance policies follow a normal distribution with mean 19,400 and standard deviation...
Claims filed under auto insurance policies follow a normal distribution with mean 19,400 and standard deviation 5,000. What is the probability that the average of 25 randomly selected claims exceeds 20,000?
A life insurance company has determined that each week an average of seven claims is filed...
A life insurance company has determined that each week an average of seven claims is filed in its Nashville branch. a. What is the probability that during the next week exactly seven claims will be filed? b. What is the probability that during the next week no claims will be filed? c. What is the probability that during the next week fewer than four claims will be filed? d. What is the probability that during the next week at least...
If one or more claims are filed within the next year with Insurance Company ABC, the sum of the claim amounts follo...
If one or more claims are filed within the next year with Insurance Company ABC, the sum of the claim amounts follow a normal distribution with a mean of 500 and 4,57 variance of 1200. The probability that a claim will not be filed within the next year 5 with Insurance Company ABC is 0.10. If one or more claims are filed within the next year with Insurance Company XYZ, the sum of the claim amounts follow a normal distribution...
The number of claims in a year, N, on an insurance policy has a Poisson distribution...
The number of claims in a year, N, on an insurance policy has a Poisson distribution with mean 0.25. The numbers of claims in different years are mutually independent. Calculate the probability of 3 or more claims over a period of 2 years
An insurance company issues 1250 vision care insurance policies. The number of claims filed by a policyholder under a vision care insurance policy during one year is a random variable with u=2 and = 72. Assume the numbers of claims filed by different policyholders are mutually independent. Calculate the approximate probability that there is a total of between 2450 and 2600 claims during a one-year period?
An insurance company has issued 100 policies. The number of claims filed under each policy follows a Poisson distribution with a mean 2. Assuming that the claims filed by each policyholder are independent of each other, what is the approximate probability that more than 220 claims will be filed by the group of policyholders? B) 0.159 A) 0.079 C) 0.444 D) 0.556 E) 0.921 Question 2-20 An actuary is studying claim patterns in an insurer's book of business. He compiles...
Question 3-6 An insurance company each policy follows a Poisson distribution with a mean 3. has issued 75 policies. The number of claims filed under Assuming that the claims filed by each policyholder are independent of each other, what is the approximate probability that more than 250 claims will be filed by the group of policyholders? A) 0.048 B 0.168 C) 0.424 D) 0.576 E) 0.952 Question 3-7 650X and let X have the following probability density function: Let Y...
one with u = 5. An insurance company issues 1250 vision policies. The number of claims filed by a policyholder under a vision policy during year is a random Variable 2 and 6=52. Assume humber of claims filed by different policy holders are mutually independent, Calculate the approximate probability that there is a total of between 2450 and 2600 claims during a one year periode 6. the profit for a new product is given by..Z - 3X-Y-5 Jf Xand Y...
Claims filed under auto insurance policies follow a normal distribution with mean 19,400 and standard deviation 5,000. What is the probability that the average of 25 randomly selected claims exceeds 20,000?
If one or more claims are filed within the next year with Insurance Company ABC, the sum of the claim amounts follow a normal distribution with a mean of 500 and 4,57 variance of 1200. The probability that a claim will not be filed within the next year 5 with Insurance Company ABC is 0.10. If one or more claims are filed within the next year with Insurance Company XYZ, the sum of the claim amounts follow a normal distribution...
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