Question
A general insurance company writes claims, whose amounts have a lognormal distribution, with mean 450 and standard deviation 600. The insurance company purchases excess of
A general insurance company writes claims, whose amounts have a lognormal distribution, with mean 450 and standard deviation 600. The insurance company purchases excess of loss reinsurance with retention 750 per claim.
Calculate the average expected claim size payable by the insurance company
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Advanced Engineering Mathematics
Authors: ERWIN KREYSZIG
9th Edition
0471488852, 978-0471488859
