Programme Code : MEC
Course Code : mece-003
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Year : 2013 Views: 857 Submitted By : tanu jain On 15th March, 2013

Do you have solution for this Question. If yes    I aslo want solution.

Q.


Q- From the following table, a risk is picked at random and we do not know what type it is. for this randomly selected risk, during one year there are 3 claims.use bayesian analysis to predict the future claim frequency of the same risk.(assume that the types are homogeneous).


























type

prior of risk in this type

average (annual) claim frequency

1

70%

0.4

2

20%

0.6

3

10%

0.8
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