Hi everyone, I was doing BSM Question. While calculating N(D1), I got a bit confused in z table. My d value is -0.193 What will be N(D1) ? Is it 42.47% ??
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My doubt is from FRA Reading-16, pg no-127 (schweser) What is difference between Loss and loss adjustment expense ratio and underwriting loss ratio and if both are same then why formula is different for both ?
A or c and why ?