The following data set are observations that represent payments on claims from a general liability insurance policy: Pay

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The Following Data Set Are Observations That Represent Payments On Claims From A General Liability Insurance Policy Pay 1 (90.86 KiB) Viewed 98 times

The following data set are observations that represent payments on claims from a general liability insurance policy: Payment range Number of payments 0 - 5,000 121 5,000 – 10,000 110 10,000 – 17,500 76 17,500 – 27,500 39 27,500 – 42,500 21 42,500 – 60,000 11 Over 60,000 3 a. Determine the distribution function for data set above b. Estimate $(15,000), f (15,000), and the variance of these estimators c. Determine the maximum likelihood estimate for an exponential distribution and for inverse exponential distribution