Let S1 and S2 be two independent collective risks, the first with a Poisson distribution composed of parameters (λ1, F1) with λ1 = 10, and the second with a Poisson distribution composed of parameters (λ2, F2) with λ2 = 20. Suppose that the claims Both risks are of magnitude 50 or 100, but achieved with different probabilities. More specifically, the cdf for claims are given by Fi(x)={ (0, if x<50; πi, if 50 ≤x <100; 1,if x ≥100.). Where i = 1, 2, π1 = 1/2 and π2 = 1/3. Find the distribution of S= S1 + S2 and the cumulative distribution function of risk S claims.
Let S1 and S2 be two independent collective risks, the first with a Poisson distribution composed of parameters (λ1, F1) with λ1 = 10, and the second with a Poisson distribution composed of parameters (λ2, F2) with λ2 = 20. Suppose that the claims Both risks are of magnitude 50 or 100, but achieved with different probabilities. More specifically, the cdf for claims are given by Fi(x)={ (0, if x<50; πi, if 50 ≤x <100; 1,if x ≥100.). Where i = 1, 2, π1 = 1/2 and π2 = 1/3. Find the distribution of S= S1 + S2 and the cumulative distribution function of risk S claims.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...
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Let S1 and S2 be two independent collective risks, the first with a Poisson distribution composed of parameters (λ1, F1) with λ1 = 10, and the second with a Poisson distribution composed of parameters (λ2, F2) with λ2 = 20. Suppose that the claims Both risks are of magnitude 50 or 100, but achieved with different probabilities. More specifically, the cdf for claims are given by Fi(x)={ (0, if x<50; πi, if 50 ≤x <100; 1,if x ≥100.).
Where i = 1, 2, π1 = 1/2 and π2 = 1/3. Find the distribution of S= S1 + S2 and the cumulative distribution
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