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
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The number of claims in a year, N, on an insurance policy has a
Poisson distribution...
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 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...
There are two types risks involved with an insurance policy. (1) The number of claims per...
There are two types risks involved with an insurance policy. (1) The number of claims per period for risk A follows a Poisson distribution with mean 2. (ii) The number of claims per period for risk B follows a Poisson distribution with mean 2 + 1. (ill) The probability of selecting risk A is equal to the probability of selecting risk B. One of the risks is randomly selected, and zero claims are observed for this risk during one year....
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?
Problem 43.22t A flood insurance company determines that N, the number of claims received in a...
Problem 43.22t A flood insurance company determines that N, the number of claims received in a month, is a rando! n variable with P(N = n) アFT, for n 0, 1, 2, .. The numbers of claims received in different months are mutually indepen- dent. Calculate the probability that more than three claims will be received during a consecutive two-month period, given that fewer than two claims were received in the first of the two months. 3n+1
Someone claims that the number of hits on his website has a Poisson distribution with mean...
Someone claims that the number of hits on his website has a Poisson distribution with mean three per half an hour. We would like to observe the website statistics during a period of two hours to figure out the number of hits during this period a)Define the random variable of interest, its support, and parameter values over this period b)What is the probability that number of hits will be at least 10 over this period
The annual frequency of claims against a single policy in a certain portfolio follows the distrib...
The annual frequency of claims against a single policy in a certain portfolio follows the distribution: P(N-0) 0.6, P(N-1) 0.25, P(N-2)-0.10, P(N-3) 0.0:5 There are 900 policies in this portfolio. Current staffing levels can handle as many as 580 claims against this portfolio in a year. If the annual claim count exceeds 580, then additional help wll be hired. The number of claims against different policies are independent. Calculate the probability that current staffing levels are adequate for next year....
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...
MIH451 7. The number of claims in a period has a geometric distribution with mean 4. The amount of each claim X follows Pr(X-x) 0.25, x = 1, 2, 3, 4, The number of claims and the claim amounts ar...
MIH451 7. The number of claims in a period has a geometric distribution with mean 4. The amount of each claim X follows Pr(X-x) 0.25, x = 1, 2, 3, 4, The number of claims and the claim amounts are independent. S is the aggregate claim amount in the period. Calculate Fs(3).
MIH451 7. The number of claims in a period has a geometric distribution with mean 4. The amount of each claim X follows Pr(X-x) 0.25, x = 1,...
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...
There are two types risks involved with an insurance policy. (1) The number of claims per period for risk A follows a Poisson distribution with mean 2. (ii) The number of claims per period for risk B follows a Poisson distribution with mean 2 + 1. (ill) The probability of selecting risk A is equal to the probability of selecting risk B. One of the risks is randomly selected, and zero claims are observed for this risk during one year....
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?
Problem 43.22t A flood insurance company determines that N, the number of claims received in a month, is a rando! n variable with P(N = n) アFT, for n 0, 1, 2, .. The numbers of claims received in different months are mutually indepen- dent. Calculate the probability that more than three claims will be received during a consecutive two-month period, given that fewer than two claims were received in the first of the two months. 3n+1
The annual frequency of claims against a single policy in a certain portfolio follows the distribution: P(N-0) 0.6, P(N-1) 0.25, P(N-2)-0.10, P(N-3) 0.0:5 There are 900 policies in this portfolio. Current staffing levels can handle as many as 580 claims against this portfolio in a year. If the annual claim count exceeds 580, then additional help wll be hired. The number of claims against different policies are independent. Calculate the probability that current staffing levels are adequate for next year....
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...
MIH451 7. The number of claims in a period has a geometric distribution with mean 4. The amount of each claim X follows Pr(X-x) 0.25, x = 1, 2, 3, 4, The number of claims and the claim amounts are independent. S is the aggregate claim amount in the period. Calculate Fs(3).
MIH451 7. The number of claims in a period has a geometric distribution with mean 4. The amount of each claim X follows Pr(X-x) 0.25, x = 1,...
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