September 2012
Beginner to intermediate
536 pages
14h 40m
English
book
Loss Models: From Data to Decisions, 4th Edition
by Stuart A. Klugman, Harry H. Panjer, Gordon E. Willmot
Content preview from Loss Models: From Data to Decisions, 4th Edition
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E.2 Mean preserving
This method ensures that the discretized distribution has the same mean as the original severity distribution. With no modifications, the discretization is
For the modified distribution.
To incorporate truncation from above, change the denominators to
and subtract h[1 − FX(u)] from the numerators of each of g0 and g(u-d)/h.
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