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4. You are given the following information on losses paid during each of AY4 through AY7 ident Earned Year AY4 25,000 10,000 5,000 2,000 AY5
4. You are given the following information on losses paid during each of AY4 through AY7 ident Earned Year AY4 25,000 10,000 5,000 2,000 AY5 29,750 AY6 33,000 AY7 38,000 2005 2006 2007 remium 12,050 6,025 2, 14,500 7,2 17,47 The expected loss ratios are as follows: Accident Year AY4 AYS AY6 AY7 ELR 0.680 0.688 0.700 0.700 Find the December 31, AY7 estimated loss reserve using each of the following methods. a. Expected loss ratio method b. Chain-ladder method (round all factors to 3 decimals) c. Bornhuetter Ferguson method
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