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6. An insurance company is trying to fit a paralogistic distribution to its claims data. The survival function for this distribution is given by S (x) = (1/1+(x/theta)^a)^a It is very important for the insurance company to correctly model the expected value and the 95th percentile of this distribution. The.
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6. A supplier manufactures metal sheeting whose thickness is normally distributed with a mean of 8.25 mm, and a standard deviation of 0.05 mm. Find the probability that a piece of metal sheeting has a thickness of: (i) less than 8.32 mm (ii) less than 8.12 mm; (iii) more than.
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