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...
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...
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?