Q2. You are given that the annual number of claims on a given policy has the geometric distribution with parameter B. One-third of the policies have ß = 2 and the remaining two-thirds have ß = 5. A randomly selected policy had two claims in Year 1. a- Determine the hypothetical means. b- Determine the pure or the collective premium c- Determine the Bayesian premium without using the hypothetical means. d- Determine the Bayesian premium by using the hypothetical means.

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