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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.
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.


<ol style="list-style-type:upper-alpha">
<ul class="mw-excansopts">
<li>0.045</li>
<li>0.045</li>
<li>0.11</li>
<li>0.11</li>
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<li>0.55</li>
<li>0.55</li>
<li>1</li>
<li>1</li>
</ol>
</ul>

Revision as of 01:58, 18 March 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