jstark
Comments
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Oh that makes perfect sense!
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In part b, why don't we use E[L] = E[A] - c*I in the retrospective premium formula? Instead, the solution just uses 8M directly.
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That makes sense. Thanks!
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Hi. I have an additional question. Fisher says we may include the cost of the per-occurrence limit within the basic premium. However, the discussion above (especially tracyguo8's #3 point above about the ICRLL procedure) gives me…
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I looked at this for a long time, and I of course figured it out immediately after posting. The issue is that in columns E-J, I'm using loss ratios instead of turning those into entry ratios. After dividing them all by 0.5, I got the same answers…
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In the top right corner of the Lee Diagram for this question, is it consequential that we state that that portion is excluded due to the per occurrence limit? I never would have thought of it that way. In my mind, since it was an amount above the…