Inverse weibull distribution

Reference no: EM1397019

Individual loss amounts (ground up) this year follow an inverse Weibull distribution with τ= 3 and expected value 1000. Next year you con?fidently expect loss amounts to in?ate by 10% uniformly across the board. What will be the standard deviation next year for payment amounts that are subject to a 200 deductible per loss and limited to a maximum payment of 2000 per loss? Please answer for the ?per loss ?variable, not the per payment?variable.

Reference no: EM1397019

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