as331.as4.F07 - Actuarial Science 331 Fall 2007...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Actuarial Science 331 Fall 2007 Assignment #4 (Revised) due Wednesday Nov. 21, 2007 Data for Questions 1 to 5 A school is being established to provide a 4-year period of training for students who will be not less than 17 years of age nor more than 20 years of age at entry. Based on the experience of an established institution of a similar kind, it is expected that the annual probabilities of failure to meet the examination standards will vary by classes in accordance with the following schedule. The estimated annual probabilities of withdrawal for other reasons (including death) is also shown. Annual probabilities of Academic Withdrawal for all Class Failure Other reasons First Year 0.150 0.300 Second Year 0.100 0.200 Third Year 0.075 0.100 Fourth Year 0.050 0.050 1. (a) How many new students should be accepted each year if the total enrollment of the school immediately following the beginning of its fourth year of operation is to be 5000 students?
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern