3 Chapter 3 solutions - Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition [Book]

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CHAPTER 3 SOLUTIONS
3.1 SECTION 3.1
3.1

3.2 For Model 1, 2 = 3,333.33 502 = 833.33, = 28.8675.

For Model 2, 2 = 4,000,000 1,0002 = 3,000,000, = 1,732.05. 3 and 4

are both infnite so the skewness and kurtosis are not defned.
For Model 3, 2 = 2.25 .932 = 1.3851, = 1.1769.

For Model 4, 2 = 6,000,000,000 30,0002 = 5,100,000,000, = 71,414.

https://www.safaribooksonline.com/library/view/student-solutions-manual/9781118315316/Chapter03.html[26.01.2017 14:34:39]

3 Chapter 3 solutions - Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition [Book]

For Model 5, 2 = 2,395.83 43.752 = 481.77, = 21.95.

3.3 The standard deviation is the mean times the coeffcient of variation, or 4,
and so the variance is 16. From (3.3) the second raw moment is 16 + 22 = 20.
The third central moment is (using Exercise 3.1) 136 3(20)(2) + 2(2)3 = 32.
The skewness is the third central moment divided by the cube of the standard
deviation, or 32/43 = 1/2.
3.4 For a gamma distribution the mean is . The second raw moment is ( +
1)2, and so the variance is 2. The ...

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3 Chapter 3 solutions - Student Solutions Manual to Accompany Loss Models: From Data to Decisions, Fourth Edition [Book]

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