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Math 37 OZ Quiz Week 4 (2/25)
1) On January 1, 2000, Jack deposited 1,000 in Bank X to earn interest at a rate of j per
annum compounded semiannually. On January 1, 2005, he transferred his account to Bank
Y to earn interest at a rate of k pe
Math 370X
Quiz 2
Name:
NetID:
1) An insurance company pays hospital claims. The number of claims that include
emergency room or operating room charge is 85% of the total number of claims. The
number of claims that do not include emergency room charge is 2
Math 370X
Lecture 2
Conditional Probability and Independence
Course Webpage: http://www.math.uiuc.edu/~xu5 l/math370x.html
Ofce Hours: Wednesday 42005200pm
Thursday 2:3 0-3 :3 0pm
1. Conditional probability of event B given eventA:
P(BJA) =
P(B n A)
Math 370X
Lecture 4
Expectations and Other Distribution Parameters
1. Mean (Expectation) of a Random Variable X:
Discrete:
Continuous:
2. Variance of a Random Variable X:
Standard Deviation:
Coefficient of Variation:
3. Moments and Moment Generating Funct
Math 370X
Quiz 3
Name:
NetID:
1) In Modeling the number of claims filed by an individual under an automobile policy
during a three-year period, an actuary makes the simplifying assumption that for all
integers , whererepresents the probability that the po
Math 370X
Lecture 3
Random Variables and Probability Distributions
1. Random Variable X:
Discrete Random Variable: X can take on values only from a finite or countable
infinite sequence.
Continuous Random Variable: X can assume values from an interval of
Math 370X
Quiz 4
Name:
NetID:
1)
A probability distribution of the claim sizes for an auto insurance policy is given
in the table below:
Claim Size 20 30 40 50 60 70 80
Probability .15 .10 .05 .20 .10 .10 .30
What percentage of the claims are within one s
Math 370X
Lecture 5
Discrete Distributions I
Correction: If X and Y are independent, M X +Y (t ) = M X (t ) M Y (t )
1. Binomial Distribution:
Suppose that a single trial of an experiment results in either success with probability
p, or failure with proba
Math 370X
Quiz 5
Name:
NetID:
1)
A company prices its hurricane insurance using the following assumptions:
(a) In any calendar year, there can be at most one hurricane.
(b) In any calendar year, the probability of a hurricane is 0.05.
(c) The number of hu
Math 370X
Lecture 6
Discrete Distributions II
1. Poisson Distribution:
The Poisson distribution is often used as a model for counting the number of events
of a certain type that occur in a certain period of time.
e x
, for x = 0,1,2,3,. .
p ( x) =
x!
E[ X
Math 370Z
WEEK 3
Financial Economics Day 2
Review of Puts & Calls
What long and short mean
Payoff structures
Forwards
Put-Call Parity
Portfolios of Options
Straddle
Written Straddle
Butterfly Spread
Bull Spread
Bear Spread
Collar
Puts & Calls A Re
Math 370Z
WEEK 1
Course Basics
Syllabus
Getting access to Compass
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[email protected]
Compass Site
Will post lecture notes, lecture examples, and quiz solutions
Should be updated within 1 week if not, bug me a
UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN
Actuarial Science Program
DEPARTMENT OF MATHEMATICS
Math 370 (Section Z)
Actuarial Problem Solving
Spring 2014
245 Altgeld Hall
7:00-8:50 pm Tuesday
Starting February 4, 2014
12 Lectures
Sarah Manuel
Office Hours