1. Posts in the subject areas are now being moderated. Please do not post any details about your exam for at least 3 working days. You may not see your post appear for a day or two. See the 'Forum help' thread entitled 'Using forums during exam period' for further information. Wishing you the best of luck with your exams.
    Dismiss Notice

St3 Sept 2007 Q2ii

Discussion in 'SP7' started by Edward Smith, Apr 1, 2022.

  1. Edward Smith

    Edward Smith Active Member

    I am not following the rationale in the answer for the average accident date in 06' - would someone be able to explain?

    Thanks

    Ed
     
    Edward Smith, Apr 1, 2022
    #1
  2. Darren Michaels

    Darren Michaels ActEd Tutor Staff Member

    Can you tell us which past exam paper this question relates to please?
     
    Darren Michaels, Apr 1, 2022
    #2
  3. Edward Smith

    Edward Smith Active Member

    sorry says in the title - st3 q2ii
     
    Edward Smith, Apr 1, 2022
    #3
  4. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    Maybe a clue on the year and sitting, Ed? :)
     
    Ian Senator, Apr 1, 2022
    #4
  5. Edward Smith

    Edward Smith Active Member

    Haha apologies - september 2007 !
     
    Edward Smith, Apr 1, 2022
    #5
  6. Darren Michaels

    Darren Michaels ActEd Tutor Staff Member

    There are 1,000 policies on risk during Sep, 2,500 in Oct, 4,500 in Nov and 7,000 in Dec. You can think of these as like exposure units.

    During each month, the average accident date will be mid-month (so mid-Sep, mid-Oct, etc).

    Taking a weighted average of these dates with the corresponding exposure units for each month, gives the overall average accident date 2/3rds the way through November, ie (8.5*1000+9.5*2500+10.5*4500+11.5*7000)/15000 = 10.6667

    (ps I have changed the title of the thread so people can search for the question :))
     
    Darren Michaels, Apr 4, 2022
    #6

Share This Page