An insurer has data on losses for four policyholders for 7 years. The loss from the "policyholder for year j is X.You are given:4 72ΣΣ(Χ)-Χ)-33.60=1 j=1Σ(Χ- x- 3.30#1Using nonparametric empirical Bayes estimation, calculate the Bühlmann credibility factorfor an individual policyholder.(A)Less than 0.74(B)At least 0.74, but less than 0.77(C)At least 0.77, but less than 0.80(D)At least 0.80, but less than 0.83(E)At least 0.83

Given r=4, n=7 ∑i=14∑j=17Xij-X¯i2=33.60 ∑i=14X¯i-X¯2=3.30

Answered: An insurer has data on losses for four…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A certain brand of upright freezer is available in three different rated capacities: 16ft3, 18 ft3, and 20 ft3. Let X = the rated capacity of a freezer of this brand sold at acertain store. Suppose that X has pmfx 16 18 20p(x) .2 .5 3a. Compute E(X), E(X2), and V(X).b. If the price of a freezer having capacity X is 70X – 650, what is the expectedprice paid by the next customer to buy a freezer?c. What is the variance of the price paid by the next customer?d. Suppose that although the rated capacity of a freezer is X, the actual capacityis h(X) = X - .008X2. What is the expected actual capacity of the freezer purchasedby the next custom
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