Loss Models: From Data to Decisions, 4e Student Solutions Manual E-Book

Stuart A. Klugman

• Herausgeber: John Wiley & Sons
• Kategorie: Wissenschaft und neue Technologien
• Serie: Wiley Series in Probability and Statistics
• Sprache: Englisch

Seitenzahl: 182

Veröffentlichungsjahr: 2014

Beschreibung

Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition. This volume is organised around the principle that much of actuarial science consists of the construction and analysis of mathematical models which describe the process by which funds flow into and out of an insurance system.

Leseprobe

CONTENTS

1 INTRODUCTION

CHAPTER 2 SOLUTIONS

2.1 SECTION 2.2

CHAPTER 3 SOLUTIONS

3.1 SECTION 3.1

3.2 SECTION 3.2

3.3 SECTION 3.3

3.4 SECTION 3.4

3.5 SECTION 3.5

CHAPTER 4 SOLUTIONS

4.1 SECTION 4.2

CHAPTER 5 SOLUTIONS

5.1 SECTION 5.2

5.2 SECTION 5.3

5.3 SECTION 5.4

CHAPTER 6 SOLUTIONS

6.1 SECTION 6.1

6.2 SECTION 6.5

6.3 SECTION 6.6

CHAPTER 7 SOLUTIONS

7.1 SECTION 7,1

7.2 SECTION 7.2

7.3 SECTION 7.3

7.4 SECTION 7.5

CHAPTER 8 SOLUTIONS

8.1 SECTION 8.2

8.2 SECTION 8.3

8.3 SECTION 8.4

8.4 SECTION 8.5

8.5 SECTION 8.6

CHAPTER 9 SOLUTIONS

9.1 SECTION 9.1

9.2 SECTION 9.2

9.3 SECTION 9.3

9.4 SECTION 9.4

9.5 SECTION 9.6

9.6 SECTION 9.7

9.7 SECTION 9.8

CHAPTER 10 SOLUTIONS

10.1 SECTION 10.2

10.2 SECTION 10.3

10.3 SECTION 10.4

CHAPTER 11 SOLUTIONS

11.1 SECTION 11.2

11.2 SECTION 11.3

CHAPTER 12 SOLUTIONS

12.1 SECTION 12.1

12.2 SECTION 12.2

12.3 SECTION 12.3

12.4 SECTION 12.4

CHAPTER 13 SOLUTIONS

13.1 SECTION 13.1

13.2 SECTION 13.2

13.3 SECTION 13.3

13.4 SECTION 13.4

13.5 SECTION 13.5

CHAPTER 14

14.1 SECTION 14.7

CHAPTER 15

15.1 SECTION 15.2

15.2 SECTION 15.3

CHAPTER 16 SOLUTIONS

16.1 SECTION 16.3

16.2 SECTION 16.4

16.3 SECTION 16.5

CHAPTER 17 SOLUTIONS

17.1 SECTION 17.7

CHAPTER 18

18.1 SECTION 18.9

CHAPTER 19

19.1 SECTION 19.5

CHAPTER 20 SOLUTIONS

20.1 SECTION 20.1

20.2 SECTION 20.2

20.3 SECTION 20.3

20.4 SECTION 20.4

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Library of Congress Cataloging-in-Publication Data is available.

ISBN 978-1-118-31531-6

WILEY SERIES IN PROBABILITY AND STATISTICS

Established by WALTER A. SHEWHART and SAMUEL S. WILKS

Editors: David J. Baiding, NoelA. C. Cressie, Garrett M. Fitzmaurice, Harvey Goldstein, Iain M. Johnstone, Geert Molenberghs, David W. Scott, Adrian F. M. Smith, Ruey S. Tsay, Sanford Weisberg

Editors Emeriti: Vic Barnett, J. Stuart Hunter, Joseph B. Kadane, Jozef L. Teugels

A complete list of the titles in this series appears at the end of this volume.

CHAPTER 1

INTRODUCTION

The solutions presented in this manual reflect the authors’ best attempt to provide insights and answers. While we have done our best to be complete and accurate, errors may occur and there may be more elegant solutions. Errata will be posted at the ftp site dedicated to the text and solutions manual: ftp://ftp.wiley.com/public/sci_tech_med/loss_models/

Should you find errors or would like to provide improved solutions, please send your comments to Stuart Klugman at [email protected].

CHAPTER 2

CHAPTER 2 SOLUTIONS

2.1 SECTION 2.2

2.1

2.2 The requested plots follow. The triangular spike at zero in the density function for Model 4 indicates the 0.7 of discrete probability at zero.

2.4 The survival function can be recovered as

Taking logarithms gives

2.5 The ratio is

From observation or two applications of L’Hôpital’s rule, we see that the limit is infinity.

CHAPTER 3

CHAPTER 3 SOLUTIONS

3.1 SECTION 3.1

3.1

3.5 For Model 1,

For Model 2,

For Model 3,

For Model 4,

The functions are straight lines for Models 1, 2, and 4. Model 1 has negative slope, Model 2 has positive slope, and Model 4 is horizontal.