Many people who are involved in a small auto accident do not file a claim because they
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Many people who are involved in a small auto accident do not file a claim because they are afraid their insurance premiums will be raised. Suppose that City Farm Insurance has three rates. If you file a claim, you are moved to the next higher rate. How might you use simulation to determine whether a particular claim should be filed?
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You need to fit some distribution to the size of claims Probably lo...View the full answer
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Related Book For
Business Analytics Data Analysis and Decision Making
ISBN: 978-1305947542
6th edition
Authors: S. Christian Albright, Wayne L. Winston
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