exercise:A571e9377e: Difference between revisions
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Determine the expected loss for a randomly selected risk given that the loss is greater than 1,000. | Determine the expected loss for a randomly selected risk given that the loss is greater than 1,000. | ||
< | <ul class="mw-excansopts"> | ||
<li>1,065</li> | <li>1,065</li> | ||
<li>1, | <li>1,238</li> | ||
<li>1,313 | <li>1,313</li> | ||
<li>1, | <li>1,587</li> | ||
<li>1, | <li>1,597</li> | ||
</ul> | |||
</ | |||
Latest revision as of 22:58, 16 March 2024
You are given the following about a portfolio of risks:
- Risks are classified into three classes: 10% belong to class A, 30% belong to class B and 60% belong to class C.
- Losses for each risk are uniformly distributed on an interval [a,b] with a and b dependent on class:
| Class | a | b |
|---|---|---|
| A | 0 | 1,500 |
| B | 500 | 2,300 |
| C | 100 | 1,000 |
Determine the expected loss for a randomly selected risk given that the loss is greater than 1,000.
- 1,065
- 1,238
- 1,313
- 1,587
- 1,597