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Latest revision as of 18:38, 30 June 2024
Each row in the table below gives the probability that a claim frequency will equal 0, 1, 2 or 3 for a specific policy:
| 0 | 1 | 2 | 3 |
|---|---|---|---|
| 0.55 | 0.45 | 0 | 0 |
| p | 1-p | 0 | 0 |
| 0.6 | 0.3 | 0.05 | 0.05 |
The probability that the sum of the claim frequencies is less than or equal to 3 is 0.95. If the claim frequency events of distinct policies are independent, determine p.
- 0.045
- 0.11
- 0.45
- 0.55
- 1