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S490C F08 Quiz 2

# S490C F08 Quiz 2 - Poisson distribution given the parameter...

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Math 490C Fall 2008 Quiz 2 1. A company has 50 employees whose dental expenses are mutually independent. For each employee, the company reimburses 100% of dental expenses. The dental expense for each employee is distributed as follows: Expense Probability 0 0.50 100 0.30 400 0.10 900 0.10 Using the normal approximation, calculate the 95 th percentile of the cost to the company.

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2. The number of dental claims in a given year is conditionally distributed as a
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Unformatted text preview: Poisson distribution given the parameter of Î». The parameter Î» is distributed as a Gamma distribution with Î± = Î¸ = 1. Calculate the unconditional probability that the number of claims in a year is exactly 1. (Bonus) Determine the formula for the unconditional probability that there will be exactly n claims per year....
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S490C F08 Quiz 2 - Poisson distribution given the parameter...

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