CHAPTER 12
CHAPTER 12 SOLUTIONS
12.1 SECTION 12.1
12.1 The calculations are in Tables 12.1 and 12.2.
Table 12.1 Calculations for Exercise 12.1.
Table 12.2 Further calculations for Exercise 12.1.
12.2
12.3
12.4 Using the raw data, the results are in Table 12.3. When the deductible and limit are imposed, the results are as in Table 12.4. Because 1,000 is a censoring point and not an observed loss value, there is no change in the survival function at 1,000.
Table 12.3 Calculations for Exercise 12.4.
Table 12.4 Further calculations for Exercise 12.4.
12.5 Suppose the lapse was at time 1. The estimate of S(4) is (3/4)(2/3)(1/2) = 0.25. If it is at time 2, the estimate is (4/5)(2/3)(1/2) = 0.27. If it is at time 3, the estimate is (4/5)(3/4)(1/2) = 0.3. If it is at time 4, the estimate is (4/5)(3/4)(2/3) = 0.4. If it is at time 5, the estimate is (4/5)(3/4)(2/3)(1/2) = 0.20. ...
Get Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
