SOA Exam P Sample Question 73
Study guide: Exam P-1
The waiting time for the first claim from a good driver and the waiting time for the first claim from a bad driver are independent and follow exponential distributions with means 6 years and 3 years, respectively.
Calculate the probability that the first claim from a good driver will be filed within 3 years and the first claim from a bad driver will be filed within 2 years.
- A)
\frac{1}{18}(1-e^{-2/3}-e^{-1/2}+e^{-7/6}) - B)
\frac{1}{18}e^{-7/6} - C)
1-e^{-2/3}-e^{-1/2}+e^{-7/6} - D)
1-e^{-2/3}-e^{-1/2}+e^{-1/3} - E)
1-\frac{1}{3}e^{-2/3}-\frac{1}{6}e^{-1/2}+\frac{1}{18}e^{-7/6}
Answer this question and see the worked solution