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Journal of Statistics and Management Systems

(Since 1998)
Open Access ·Peer-reviewed·ISSN (Online): 2169-0014·ISSN (Print): 0972-0510
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The Journal of Statistics and Management Systems (JSMS) is a world leading journal publishing high quality, rigorously peer-reviewed original research on theoretical and applied statistics and management systems since 1998. The scope is intentionally broad, but papers must make a novel contribution to the field to be considered for publication. Topics include, but are not limited to, the following: • Statistics • Applied Statistics • Industrial Statistics • Statistical Inference • Interdisciplinary role of Statistics • Actuarial Sciences • Decision Sciences • Managerial Aspects • Management Sciences • Management Information Systems

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Journal of Statistics and Management Systems
Open Access Research Article

Tail probabilities of aggregate claim distribution when claims are weighted against Lindley distribution

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pp. 885–896Vol. 26Issue 4May 2023DOI: 10.47974/JSMS-941XML
Received:
01 Sep 2021
Accepted:
01 Mar 2022
Published Online:
10 Aug 2023
Article type:
Research Article
Language:
EN
Article no.:
JSMS-941
Pages:
885–896

Abstract

This paper proposes an approximation method for computing the tail probabilities of the aggregate claims distribution when claims follow a two-parameter weighted Lindley distribution. We have compared this approximation with some existing methods. Numerical comparisons are made with the exact results based on relative errors. The proposed approximation gives satisfactory accuracy in all applications considered in this paper.

Keywords

Frequency distributionLindley distributionAggregate claims distributionApproximation methods

Subject Classifications

91B3062P0562E17

References

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