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Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition by Gordon E. Willmot, Harry H. Panjer, Stuart A. Klugman

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CHAPTER 13

CHAPTER 13 SOLUTIONS

13.1   SECTION 13.1

13.1 The mean of the data is image = [27 + 82 + 115 + 126 + 155 + 161 + 243 + 13(250)]/20 = 207.95. The expected value of a single observation censored at 250 is image. Setting the two equal and solving produce image = 657.26.

13.2 The equations to solve are

image

Taking logarithms yields

image

The solution of these two equations is image and image, and then image.

13.3 The two equations to solve are

image

Moving the 1 to the left-hand side and taking logarithms produces

image

Dividing the ...

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