FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Suppose that Y is the number of insurance claims made by an indi- vidual policyholder in one year. We assume that Y|X = x ~

Suppose that Y is the number of insurance claims made by an indi- vidual policyholder in one year. We assume that Y|X = x ~ Pois(2) where X ~ Gamma(a,0). (a) Work out the probability that the policyholder makes exactly y claims in a year. (b) What is the expected number of claims in a year?

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

Microeconomics An Intuitive Approach with Calculus
Microeconomics An Intuitive Approach with Calculus

Authors: Thomas Nechyba

1st edition

538453257, 978-0538453257

More Books

Students explore these related Finance questions

Question

Discuss the applications of the brand development index.

Answered: 3 weeks ago

Question

The following accounts and related balances of Dove Designers, Inc., as of December 31, 2017, are arranged in no particular order. Requirements 1. Prepare Dove's classified balance sheet in the...

Answered: 3 weeks ago

Question

=+16. Concepts, again. We are trying to forecast monthly sales for a local company that bottles water. Assume that their sales peak during the month of July and that the monthly sales have been...

Answered: 3 weeks ago

Question

Coakwell Company worked on only two jobs during May. Information on the jobs is given below: At the beginning of the year, annual manufacturing overhead (MOH) was budgeted at $3,780,000 and Coakwell...

Answered: 3 weeks ago

Question

2. As an analyst at Churnem \& Bernem Securities, you are responsible for making recommendations to your firm's clients regarding common stocks. After gathering data on Denver Semiconductors, you...

Answered: 3 weeks ago

Question

Dulce Corporation had 240,000 shares of common stock outstanding during the current year. There were also fully vested options for 11,000 shares of common stock were granted with an exercise price of...

Answered: 3 weeks ago

Question

Explain the process of MBO

Answered: 3 weeks ago

Question

What is the H-C-H bond angle in a methane molecule? [A] 120 [B] 75 [C] 109.5 [D] 150

Answered: 3 weeks ago

Question

Which of the following metals finds its use as a radiocontrast agent in X-ray imaging? [A] Scandium [B] Lithium [C] Barium [D] Titanium

Answered: 3 weeks ago

Question

What are the structures formed by the soap molecules, during cleansing, known as? [A] Stearates [B] Esters [C] Micelles [D] Tubes

Answered: 3 weeks ago

Question

Which one of the following materials is very hard and very ductile? [A] Carborundum [B] Tungsten [C] Cast iron [D] Nichrome

Answered: 3 weeks ago

Question

2. Do you think it is realistic to attempt to encourage a lifetime of customer patronage in todays uncertain business climate? Elaborate on your response.

Answered: 3 weeks ago

Question

The financial area of your life: Where are you living? In what type of home? How much money do you have in savings and investments? What kind of car are you driving?

Answered: 3 weeks ago

Question

You have discovered that your boss lied on her rsum about her academic credentials. She is being considered for a new position in your organization, but you believe you are more qualified than she...

Answered: 3 weeks ago

Previous Question Next Question