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Approximate the 95<sup>th</sup> percentile of the loss distribution. | Approximate the 95<sup>th</sup> percentile of the loss distribution. | ||
<ol style="list-style-type: | <ol style="list-style-type:upper-alpha"> | ||
<li>678.15</li> | <li>678.15</li> | ||
<li>750.33</li> | <li>750.33</li> | ||
Latest revision as of 12:36, 1 June 2022
An actuary is using a normal approximation to model loss distributions. To calibrate the parameters of the normal distribution, the actuary uses historical loss data. You are given the following:
- The sample mean equals 500
- 10% of the historical losses are larger than 800
Approximate the 95th percentile of the loss distribution.
- 678.15
- 750.33
- 856.11
- 884.96
- 900.25