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Losses follow a two-parameter Pareto distribution with a = 3 and 0 = 1500. An insurance policy pays nothing if losses are at or
Losses follow a two-parameter Pareto distribution with a = 3 and 0 = 1500. An insurance policy pays nothing if losses are at or below 300, but reimburses the full loss if losses exceed 300. Calculate expected payment per loss on this coverage. A 521 B 647 694 D 750 E 1,200
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