Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5. (10 points) The number of claims has the probability distribution $mathbb{P}(N=0)=0.4$, $mathbb{P}(N=1)=0.3, mathbb{P}(N=2)=0.2$ and $mathbb{P}(N=3 )=0.1 $ Each claim amount has a Poisson distribution
5. (10 points) The number of claims has the probability distribution $\mathbb{P}(N=0)=0.4$, $\mathbb{P}(N=1)=0.3, \mathbb{P}(N=2)=0.2$ and $\mathbb{P}(N=3 )=0.1 $ Each claim amount has a Poisson distribution with mean 4. The number of claims and claim amounts are mutually independent. Determine the variance of aggregate claims. SP. PB. 106
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started