mean.expert: Arithmetic Mean of the Expert Aggregated Distribution

In expert: Modeling without data using expert opinion

Description

Mean of objects of class "expert".

Usage

## S3 method for class 'expert'
mean(x, ...)

Arguments

x	an object of class "expert".
...	further arguments passed to or from other methods.

Details

The mean of a distribution with probabilities p[1], …, p[r] on intervals defined by the boundaries c[1], …, c[r] is

sum(j; (c[j - 1] + c[j])/2 * p[j]).

Value

A numeric value.

References

Klugman, S. A., Panjer, H. H. and Willmot, G. E. (1998), Loss Models, From Data to Decisions, Wiley.

See Also

expert to create objects of class "expert"

Examples

x <- list(E1 <- list(A1 <- c(0.14, 0.22, 0.28),
                     A2 <- c(130000, 150000, 200000),
                     X <- c(350000, 400000, 525000)),
          E2 <- list(A1 <- c(0.2, 0.3, 0.4),
                     A2 <- c(165000, 205000, 250000),
                     X <- c(550000, 600000, 650000)),
          E3 <- list(A1 <- c(0.2, 0.4, 0.52),
                     A2 <- c(200000, 400000, 500000),
                     X <- c(625000, 700000, 800000)))
probs <- c(0.1, 0.5, 0.9)
true.seed <- c(0.27, 210000)
fit <- expert(x, "cooke", probs, true.seed, 0.03)
mean(fit)

expert documentation built on May 2, 2019, 2:27 p.m.