(c)Claim amounts on a certain type of policy are modelled as following a gamma distribution with...
(c)Claim amounts on a certain type of policy are modelled as
following a gamma distribution
with parameters alpha = 120 and theta = 1.2. Calculate an
approximate value for the probability
that an individual claim amount exceeds 120, giving a reason for
the approach you use.
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(c)Claim amounts on a certain type of policy are modelled as
following a gamma distribution
with...
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The daily rainfall in Dublin (measured in millimeters) is modelled using a gamma distribution with parameters...
The daily rainfall in Dublin (measured in millimeters) is modelled using a gamma distribution with parameters α = 0.8 and β = 0.4. (a) Write down the distribution (pdf) of the daily rainfall in Dublin. (b) Use Markov’s inequality to upper bound the probability that the observed rainfall in a given day is larger than 3 mm, and compare the value to its true counterpart. (c) Consider the overall rainfall in 365 days, and use mgfs and their properties to...
1. The size of claims made on an insurance policy are modelled through the following distribu- ti...
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1. The size of claims made on an insurance policy are modelled through the following distribu- ti...
ANSWER QUESTION 2
1. The size of claims made on an insurance policy are modelled through the following distribu- tion: λ+1 You are interested in estimating the parameter λ > 0, using the following observations 120, 20, 60, 70, 110, 150, 220, 160, 100, 100 (a) Verify that f is a density (b) Find the expectation of the generic random variable X, as a function of when > 1 (c) Prove that the method of moments estimator of λ is...
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solve d, e, f ASP please Let Y denote the claim size for a certain type...
solve d, e, f
ASP please
Let Y denote the claim size for a certain type of insurance policy and suppose Y has an exponential distribution with mean $300,000. (a) Write the density of Y for all values of y. (b) Determine the probability that a claim is smaller than $400,000 Define X = -Y so that X gives claim sizes that are negative, representing a payout from the insurance company. The remaining parts of this problem involve analyzing the...
Each of 12 refrigerators of a certain type has been returned to a distributor because of...
Each of 12 refrigerators of a certain type has been returned to a distributor because of an audible, high-pitched, oscillating noise when the refrigerators are running. Suppose that 8 of these refrigerators have a defective compressor and the other 4 have less serious problems. If the refrigerators are examined in random order, let X be the number among the first 7 examined that have a defective compressor. (a) Calculate P(X = 5) and PCX S 5). (Round your answers to...
Each of 14 refrigerators of a certain type has been returned to a distributor because of...
Each of 14 refrigerators of a certain type has been returned to a distributor because of an audible, high-pitched, oscillating noise when the refrigerators are running. Suppose that 9 of these refrigerators have a defective compressor and the other 5 have less serious problems. If the refrigerators are examined in random order, let Xbe the number among the first 6 examined that have a defective compressor. Calculate P(x 4) and P(X s P(X=4) = 0.4196 P(X 4) 10.8012 (a) 4)....
1. The size of claims made on an insurance policy are modelled through the following distribu- tion: You are interested in estimating the parameter λ > 0, using the following observations: 120, 20, 60, 70, 110, 150, 220, 160, 100, 100 (a) Verify that f is a density (b) Find the expectation of the generic random variable X, as a function of \ when A 1 (c) Prove that the method of moments estimator of λ is λι =斉. Calculate...
ANSWER QUESTION 2
1. The size of claims made on an insurance policy are modelled through the following distribu- tion: λ+1 You are interested in estimating the parameter λ > 0, using the following observations 120, 20, 60, 70, 110, 150, 220, 160, 100, 100 (a) Verify that f is a density (b) Find the expectation of the generic random variable X, as a function of when > 1 (c) Prove that the method of moments estimator of λ is...
solve d, e, f
ASP please
Let Y denote the claim size for a certain type of insurance policy and suppose Y has an exponential distribution with mean $300,000. (a) Write the density of Y for all values of y. (b) Determine the probability that a claim is smaller than $400,000 Define X = -Y so that X gives claim sizes that are negative, representing a payout from the insurance company. The remaining parts of this problem involve analyzing the...
Each of 12 refrigerators of a certain type has been returned to a distributor because of an audible, high-pitched, oscillating noise when the refrigerators are running. Suppose that 8 of these refrigerators have a defective compressor and the other 4 have less serious problems. If the refrigerators are examined in random order, let X be the number among the first 7 examined that have a defective compressor. (a) Calculate P(X = 5) and PCX S 5). (Round your answers to...
Each of 14 refrigerators of a certain type has been returned to a distributor because of an audible, high-pitched, oscillating noise when the refrigerators are running. Suppose that 9 of these refrigerators have a defective compressor and the other 5 have less serious problems. If the refrigerators are examined in random order, let Xbe the number among the first 6 examined that have a defective compressor. Calculate P(x 4) and P(X s P(X=4) = 0.4196 P(X 4) 10.8012 (a) 4)....
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