In article <5df5755d-a376-439a-b7f2-9901441db...@comcast.net>, dwinsem...@comcast.net says... > In insurance situation there is typically a cap on the covered losses > and there is also typically an amount below which it would not make > sense to offer a policy. So a minimum and a maximum are sensible > assumptions about loss distributions in may real modeling situations. But a continuous distribution would then not be a reasonable distribution. More precisely, one would typically have a mixture of a continuous and a discrete distribution, with some point probability mass at the max.
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