BattleActs100

Basic Formulas: Paid/Reported/Case

myID_+ priorDate_+ record_+ WET_+ fadeFactor_

Calculate the unknown quantity.

  
  current score:
0.000

label1 given1
label2 given2
label3 given3
label4 ?


Paid

PC1
=   cumulative value of Paid Claims at t1

PC2
=   cumulative value of Paid Claims at t2

PC1,2
=   incremental value of Paid Claims over the interval from t1 to t2
PC1,2
=   PC2 – PC1

Reported

RC1
=   cumulative value of Reported Claims at t1

RC2
=   cumulative value of Reported Claims at t2

RC1,2
=   incremental value of Reported Claims over the interval from t1 to t2
RC1,2
=   RC2 – RC1

Case

Case1
=   the value of Case O/S at t1   (point-in-time value, neither cumulative nor incremental)

Case2
=   the value of Case O/S at t2   (point-in-time value, neither cumulative nor incremental)

chg(Case)
=   Case2 – Case1

Cumulative

RC1
=   PC1 + Case1

RC2
=   PC2 + Case2


Incremental

RC1,2
=   PC1,2 + chg(Case)


Solution:
label4 answer