FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need fast the answer.... Loss severity follows a lognormal distribution with parameters u: 6 and O: 2. Each loss is subject to an ordinary deductible

need fast the answer....

image text in transcribed
Loss severity follows a lognormal distribution with parameters u: 6 and O: 2. Each loss is subject to an ordinary deductible of 2000. (a) Calculate the loss elimination ratio. (b) Calculate the probability that a loss exceeds the deductible if all losses are increased by 10%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra And Trigonometry Enhanced With Graphing Utilities (Subscription)

Algebra And Trigonometry Enhanced With Graphing Utilities (Subscription)

Authors: Michael Sullivan, Michael Sullivan III

8th Edition

0135813158, 9780135813157

More Books

Students also viewed these Mathematics questions

Question

★★★★★
A consumer advocate wants to collect a sample of jelly jars and measure the actual weight of the product in the container. He needs to collect enough data to construct a confidence interval with a...

Answered: 1 week ago

Question

★★★★★
A person invests $2,000 annually in an IRA. At the end of 6 years, the amount in the fund is $14,000. What annual nominal compounding rate has this fund earned? In Problem, use graphical...

Answered: 1 week ago

Question

★★★★★
Distinguish between short-term and long-term goals.

Answered: 1 week ago

Question

★★★★★
The following information was taken from the financial statements of Tolbert Inc. for December 31 of the current fiscal year: Common stock , $20 par (no change during the year).... $10,000,000...

Answered: 1 week ago

Question

★★★★★
Question 2 of 4 Which statement is incorrect? The average person reads 2 0 - 3 0 % slower on a screen than on a printed page. You can use an application like AccelleReader to help you focus and speed...

Answered: 1 week ago

Question

★★★★★
Imagine you work as a marketer for Gillette. Father's Day is approaching, and you would like to run a campaign using several kinds of media. Which database would be the most helpful in figuring out...

Answered: 1 week ago

Question

★★★★★
A machine with a cost of $64,008 has an estimated residual value of $4,747 and an estimated life of 6 years or 18,419 hours. It is to be depreciated by the units-of-activity method. What is the...

Answered: 1 week ago

Question

★★★★★
As we discussed in Module 2, the OWASP Foundation has developed a vulnerable web application called WebGoat that demonstrates common web application flaws and allows students to gain experience in...

Answered: 1 week ago

Question

★★★★★
The following data were gathered to use in reconciling the bank account of Donovan Company: Balance per bank $9,945 Balance per company records 9,295 Bank service charges 35 Deposit in transit 2,135...

Answered: 1 week ago

Question

★★★★★
Using the below wireshark file. I need explanations how to find/filter those information, not just answers. https://cs6035.s3.amazonaws.com/MITM/mitm_spring2024.pcap Task 1.1: What is the server...

Answered: 1 week ago

Question

★★★★★
Meranti Sdn Bhd has analysed the costs of producing and selling 5,000 units of its only product to be: Direct materials RM 60,000 Direct labour 40,000 Variable factory overhead 20,000 Fixed factory...

Answered: 1 week ago

Question

★★★★★
5. How is communication affected by how we demarcate the boundaries of a problem?

Answered: 1 week ago

Question

★★★★★
7. How does the framing of a situation affect the situation regarding communica-tion?

Answered: 1 week ago

Question

★★★★★
1. To generate a discussion on the concept of roles

Answered: 1 week ago

Previous Question Next Question