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Loss Models: From Data to Decisions, 5e Student Solutions Manual
Stuart A. Klugman, Harry H. Panjer, Gordon E. Willmot
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eBook - ePub
Loss Models: From Data to Decisions, 5e Student Solutions Manual
Stuart A. Klugman, Harry H. Panjer, Gordon E. Willmot
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About This Book
Solutions manual to accompany a text with comprehensive coverage of actuarial modeling techniques The Student Solutions Manual to Accompany Loss Models: From Data to Decisions covers solutions related to the companion text. The manual and text are designed for use by actuaries and those studying for the profession. Readers can learn modeling techniques used across actuarial science. Knowledge of the techniques is also beneficial for those who use loss data to build models for risk assessment.
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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 linked from the syllabus document for any Society of Actuaries examination that uses this text.
Should you find errors, or if you would like to provide improved solutions, please send your comments to Stuart Klugman at [email protected].
Chapter 2
Solutions
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.
- 2.3 . Setting the derivative equal to zero and multiplying by
gives the equation
. This is equivalent to
. The only positive solution is the mode of
.
Figure 2.1 The distribution function for Model 3.
Figure 2.2 The distribution function for Model 4.
Figure 2.3 The distribution function for Model 5.
Figure 2.4 The probability function for Model 3.
Figure 2.5 The density function for Model 4.
Figu...