this is the problem:
An insurance company has a particular type of insurance policy which costs $100 for six months of [login to view URL] probability of a claim being filed per policy and month is 0.01. Given that the claim is filed, the size follows a triangular distribution with minimum value $50, most likely value $200 and maximum value $500.
I need the following to solve this problem :
1-Assume independence in the filling of claims between policies and for month to month.
2-Develop and run an ARENA model to estimate the average profit and the probability of loss per policy.
3-Solve problem 1 on MS-Excel. Compare the results of the solutions of problems 1 and 2.
7 freelanceria on tarjonnut keskimäärin %project_bid_stats_avg_sub_26% %project_currencyDetails_sign_sub_27% tähän työhön
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