What Is the Consequence of Having Losses Subject to the SRLY

question 19

Essay

What is the consequence of having losses subject to the SRLY limitations?

---

Definitions:

Poisson Random Variable

Represents a statistical measure that models the number of times an event happens in a fixed interval of time or space when these events occur with a known constant mean rate independently of the time since the last event.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, calculated as the square root of variance.

Discrete Random Variable

A type of random variable that can take on a countable number of distinct values, often used to model scenarios where outcomes are countable.

Expected Number

The calculated average or mean value of a numerical random variable, representing what one expects to happen over numerous trials.