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?
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Annual claims filed by a policy holder of an insurance company
have a Poisson distribution with...
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...
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
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...
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...
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 models the number of claims filed by a policyholder under a vision care...
An insurance company models the number of claims filed by a policyholder under a vision care insurance policy as a Poisson random variable with mean 5. The insurance collects information from a sample of 200 vision care insurance policyholders. Find the probability that the average number of claims per policyholder is between 4.97 and 5.19.
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...
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 discovered that three policy-holders out of every 1,000 insured against a particular kind...
An insurance company discovered that three policy-holders out of every 1,000 insured against a particular kind of accident file a claim every year. Suppose that the company has 2,000 persons who are insured against that kind of accident. Find the probability that (a) during a given year at least four will file the claim (b) no more than 10 will file the claim (c) between five to eight (inclusive) will file the claim (d) fewer than two will file the...
Consider a large insurance company with two types of policies: policy A and policy B. Suppose...
Consider a large insurance company with two types of policies: policy A and policy B. Suppose that the number of claims the company sees in a given day has a Poisson distribution with a parameter of lamda. Suppose further that a randomly selected claim is from a type A policy with probability p. Find the probability that the company will receive exactly k claims from A policies tomorrow.
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...
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...
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 models the number of claims filed by a policyholder under a vision care insurance policy as a Poisson random variable with mean 5. The insurance collects information from a sample of 200 vision care insurance policyholders. Find the probability that the average number of claims per policyholder is between 4.97 and 5.19.
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...
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....
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