Math 472 HW 12 Solutions - MATH 472/567: Actuarial Theory...

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Unformatted text preview: MATH 472/567: Actuarial Theory II/Topics in Actuarial Theory I Homework #12: Spring 2011 Assigned April 27, due May 4 1. Telemarketers call your home according to a Poisson process at a rate of = 2 per day. (a) Calculate the average time between calls. (0.50) (b) Calculate the probability that the time between calls 5 and 6 is more than 3 days. (0.0025) 2. An application processor for a small life insurance and life annuity company processes all applications for both products. Applications arrive according to a Poisson process at a rate of 6 per hour, and any one application has probability 0.4 of being for an life annuity policy. (a) Calculate the probability that exactly 3 life annuity applications will arrive in the next hour. (0.2090) (b) Calculate the probability that the next 3 applications received are for life insurance. (0.2160) (c) Calculate the probability that the next 3 life insurance applications will arrive before the next 3 life annuity applications. (0.6826) 3. Job offers for a college graduate with a major in actuarial science arrive accord-3....
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This note was uploaded on 05/18/2011 for the course MATH 472 taught by Professor Zhu during the Spring '08 term at University of Illinois, Urbana Champaign.

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Math 472 HW 12 Solutions - MATH 472/567: Actuarial Theory...

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