Actuarial Outpost How is Buhlman-Straub different from just Buhlman?
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#1
06-24-2018, 03:19 PM
 alwaysseamus Member CAS SOA Join Date: Jun 2013 College: Clemson University Posts: 258
How is Buhlman-Straub different from just Buhlman?

I've done a bunch of practice problems, and I don't see how they are solved differently..

Is it the main difference in how to figure 'n'?
#2
06-24-2018, 04:59 PM
 Jim Daniel Member SOA Join Date: Jan 2002 Location: Davis, CA College: Wabash College B.A. 1962, Stanford Ph.D. 1965 Posts: 2,688

Quote:
 Originally Posted by alwaysseamus I've done a bunch of practice problems, and I don't see how they are solved differently.. Is it the main difference in how to figure 'n'?
Indeed, Bu-Str is just Bu applied to group insurance (or any situation in which the exposure to risk changes from observation to observation). Also, the X observed each time is the average (or, on exam questions, often the total) of all the losses each time period (month, year, or whatever). In either case, the "n" or "m" in the formula for Z is always the number of observations of the individual losses (not the number of averages or totals).
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#3
06-24-2018, 05:19 PM
 alwaysseamus Member CAS SOA Join Date: Jun 2013 College: Clemson University Posts: 258

Thank you. It's nice to get confirmation from a Stanford Ph.D.