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Calculate the average number of claims on any given day, week and month. Let t’ > 0 be an instance of time. Calculate the probability that at least one claim occurs within 5 days after t’
Calculate the average number of claims on any given day, week and month. Let t’ > 0 be an instance of time. Calculate the probability that at least one claim occurs within 5 days after t’
Posted by:Shadrack
Posted on:Nov 24,2022
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Insurance company
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Poisson process
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Random variables
STATISTICS An insurance company has an initial surplus of 100 and premium loading factor of 20%. Assume that claims arrive according to a Poisson
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