Klugman Stuart A. - Student Solutions Manual to Accompany Loss Models: From Data to Decisions

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Library of Congress Cataloging-in-Publication Data

Names: Klugman, Stuart A., 1949- author. | Panjer, Harry H., author. | Willmot, Gordon E., 1957- author.

Title: Loss models : from data to decisions / Stuart A. Klugman, Society of Actuaries, Harry H. Panjer, University of Waterloo, Gordon E. Willmot, University of Waterloo.

Description: 5th edition. | Hoboken, NJ : John Wiley and Sons, Inc., [2018] |

Series: Wiley series in probability and statistics | Includes bibliographical references and index. |

Identifiers: LCCN 2018031122 (print) | ISBN 9781119523789 (hardcover) | ISBN 9781119538059 (solutions manual)

Subjects: LCSH: InsuranceStatistical methods. | InsuranceMathematical models.

Classification: LCC HG8781 (ebook) | LCC HG8781 .K583 2018 (print) | DDC368/.01dc23

LC record available at https://lccn.loc.gov/2018031122

Cover design by Wiley

The solutions presented in this manual reflect the authors' best attempt to provide insights and answers. While we have done our best to be complete and accurate, errors may occur and there may be more elegant solutions. Errata will be linked from the syllabus document for any Society of Actuaries examination that uses this text.

Should you find errors, or if you would like to provide improved solutions, please send your comments to Stuart Klugman at .

1. 2.1

   

   

2. 2.2 The requested plots follow. The triangular spike at zero in the density function for Model 4 indicates the 0.7 of discrete probability at zero.
3. 2.3 . Setting the derivative equal to zero and multiplying by gives the equation . This is equivalent to . The only positive solution is the mode of .

   Figure 2.1 The distribution function for Model 3.

   

   Figure 2.2 The distribution function for Model 4.

   

   Figure 2.3 The distribution function for Model 5.