The Size of a Loss is either 10, 25, 40, or 80
CDF is given by:
10-----F(10) = .1
25----------= .4
40 ----------- =.6
80------------ = 1.0
Loss loss amounts are independent
you use inversion method of simulation to simulate loss amounts
How many rounds of simulation are needed in order to have a 95% chance for the est of F(50) to have an error of less than 0.01?
Help please., thiis absolute error...... cant figure it out.
CDF is given by:
10-----F(10) = .1
25----------= .4
40 ----------- =.6
80------------ = 1.0
Loss loss amounts are independent
you use inversion method of simulation to simulate loss amounts
How many rounds of simulation are needed in order to have a 95% chance for the est of F(50) to have an error of less than 0.01?
Help please., thiis absolute error...... cant figure it out.
Simulation problem....hard problem for me. help please.
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