The cumulative claim amountand projected ultimate claims (both in units of $1000) are given by the following table: Accident Development Year Year 0 1 2 3 1 1000 1500 1750 W 2 1250 Y 1820 3 1300 1800 4 Z Ultimate Claims X 1870 2130 2300 All claims are paid by the end of development year 3, i.e. by the end of the third year following the year of the accident. It is known that ultimate claims for accident years 2 and 3 have been estimated using the basic chain-ladder method. b. a. Calculate the values of W. X and Y. (5 marks) For accident year 4 the Bornhuetter-Ferguson method is used using an earned premium of 2500 and an expected loss ratio of 90%. (1) Calculate the value of Z. (4 marks) (ii) Calculate the outstanding claims reserve for all accident years implied by the completed table. The cumulative claim amountand projected ultimate claims (both in units of $1000) are given by the following table: Accident Development Year Year 0 1 2 3 1 1000 1500 1750 W 2 1250 Y 1820 3 1300 1800 4 Z Ultimate Claims X 1870 2130 2300 All claims are paid by the end of development year 3, i.e. by the end of the third year following the year of the accident. It is known that ultimate claims for accident years 2 and 3 have been estimated using the basic chain-ladder method. b. a. Calculate the values of W. X and Y. (5 marks) For accident year 4 the Bornhuetter-Ferguson method is used using an earned premium of 2500 and an expected loss ratio of 90%. (1) Calculate the value of Z. (4 marks) (ii) Calculate the outstanding claims reserve for all accident years implied by the completed table