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Old 08-30-2011, 12:35 PM
Andy TIA Andy TIA is offline
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Join Date: Jul 2011
College: Indiana University Kelley School of Business
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Default TIA's Facebook Challenge

Hey everyone,

Just wanted to get the word out that we will be doing the TIA Facebook Challenge again here in early September. We had our first challenge at the beginning of August and it was a big hit. We will be posting two questions of varying difficulty and awarding prizes to users who give the correct answer first and awarding an additional prize randomly to someone who "likes" the post containing the questions. You can keep up on all the details as they are released at our Facebook Fan Page and check out how the last challenge worked/challenge rules there too. I will also try to keep this thread updated as I nail down the date and time I will be posting the questions. The questions will once again focus on Exam 1/P material, but you don't have to be taking this exam to participate. Best of luck to you all!

Prizes will include:
1x $50 Amazon.com Gift Card
2x $25 Amazon.com Gift Card
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Old 09-02-2011, 04:06 PM
Andy TIA Andy TIA is offline
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The date and time have been set. The Challenge will commence at 11:00 AM Eastern on Wednesday, September 7th. Good Luck to all participants!
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Old 09-07-2011, 11:53 AM
Andy TIA Andy TIA is offline
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I will be posting the questions in less than 10 minutes for our TIA Facebook Challenge Round 2. Go to our Facebook Fan Page for your chance at one of three Amazon.com Gift Cards.
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Old 09-08-2011, 12:45 PM
Andy TIA Andy TIA is offline
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Just finished up this month's Facebook Challenge and on behalf of The Infinite Actuary we would like to thank all our participants and winners! For anyone who didn't stop by our Fan Page here is what we asked:

Question 1:
A spinner has two sides. One side comes up 1, 2, or 3, all equally likely, and the other comes up 1, 3, 6, or 9, all again equally likely. A side is chosen at random, and then the spinner is spun three times on that side. Let X, Y and Z be the outcomes of the first, second and third spin, respectively. What is Var[Z | X+Y=4]?

Video Solution: http://www.youtube.com/user/Infinite.../1/OBVmeFwTnMc

Question 2:
Accidents are categorized as either minor or severe, with 90% being minor. Minor accidents result in a loss that is exponentially distributed with mean 10, while severe accidents result in a loss that is exponentially distributed with mean 50. Suppose that a randomly selected loss amount X exceeds 20. What is the variance of X?

Video Solution: http://www.youtube.com/user/Infinite.../0/LjBxgAIW--g

Written Solution for Both Questions: http://www.theinfiniteactuary.com/fi.../Sept_2011.pdf
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