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Hi, I have a problem at hand.
I want to convert annual frequency of motor claims into a daily frequency.
So, let’s say I receive 40 claims from a exposure of 100 cars in a year. How do I convert this into a daily claim count.
I am assuming a poisson distribution to estimate daily claim count but in all the scenarios that i am trying to generate, all the 40 claims are received in the first half of the year which is not correct.Can anyone help me on this?
sorry, I think your choice has some problems.
annual frequency=0.4 and you may make a straightforward transformation. so the daily frequency lamda=0.4/365.
and you can calculate it. given any day, the frequency of no claim is exp(-0.4/365).
and it’s just a binomial distribution, if you want to see some claims at the second half.
at the upper half year, there is a 182 days and making a simplified assumtion that there is no more one claim at any day.
it’s a combinatorial calculation. From 182 days, you chose 39 day that reported a claim and there are 143 no claim days.
the combinatorial part is infinity.
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