Actuarial Outpost SOA 153 Question 93
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#1
02-22-2012, 11:42 AM
 psugirl2011 Member CAS Join Date: Feb 2012 Studying for Exam 5 College: PennState2011Grad Posts: 117
SOA 153 Question 93

I need help with this problem.

A family buys two policies from the same insurance company. Losses under the two policies are independent and have continuous uniform distributions on the interval from 0 to 10. One policy has a deductible of 1 and the other has a deductible of 2. The family experiences exactly one loss under each policy.

Calculate the probability that the total benefit paid to the family does not exceed 5.

They have a graph 0<x<10 and 0<y<10 with the line x+y=8. how did they get x+y=8?
#2
02-22-2012, 11:47 AM
 Actuarialsuck Member Join Date: Sep 2007 Posts: 5,961

Quote:
 Originally Posted by psugirl2011 I need help with this problem. A family buys two policies from the same insurance company. Losses under the two policies are independent and have continuous uniform distributions on the interval from 0 to 10. One policy has a deductible of 1 and the other has a deductible of 2. The family experiences exactly one loss under each policy. Calculate the probability that the total benefit paid to the family does not exceed 5. They have a graph 0
There's already threads on this so you'd probably help yourself but searching. The quick answer is if there is a deductible of 1 and 2 so we want the benfiit paid to not exceed 5, they are already going to pay 1 and 2 for deductible so 1 + 2 + 5 = 8
__________________
Quote:
 Originally Posted by Buru Buru i'm not. i do not troll.
#3
02-22-2012, 11:51 AM
 psugirl2011 Member CAS Join Date: Feb 2012 Studying for Exam 5 College: PennState2011Grad Posts: 117

oh ok i see. I tried searching for that thread but couldn't find it.
#4
02-22-2012, 01:18 PM
 Actuarialsuck Member Join Date: Sep 2007 Posts: 5,961

Found this http://www.actuarialoutpost.com/actu...soa+deductible searched for "SOA deductible" in the 1/P forums.
__________________
Quote:
 Originally Posted by Buru Buru i'm not. i do not troll.
#5
02-22-2012, 01:33 PM
 psugirl2011 Member CAS Join Date: Feb 2012 Studying for Exam 5 College: PennState2011Grad Posts: 117

thank you I didnt look thoroughly I understand now

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