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Actuarial statistics. Use backward recurssion 1. (2) Distinguish between Pure Endowment and Endowment Insurance. (5 marks) (b) Given that Z is a random variable representing

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Actuarial statistics. Use backward recurssion

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1. (2) Distinguish between Pure Endowment and Endowment Insurance. (5 marks) (b) Given that Z is a random variable representing the present value of Ghel for a whole life insur- ance policy, I = 0.25, Find A, and Var(Z) using the table below. A. 20 0.01246 21 0.02245 22 0.08619 23 0.37745 24 100

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