A Preliminary Test of the Coal Mine Rating Schedule of the Associated Companies [Discussion]

Mr. Downey's clear statement of the results of the application of the Coal Mine Rating Schedule of the Associated Companies to Pennsylvania coal mining risks indicates that the theory upon which this schedule is constructed is well worth the careful consideration of all students of the schedule rating problem. It may be that the solution of a great many of our schedule rating difficulties can be found in a thoroughgoing analysis of the underlying principles upon which the Schedule of the Associated Companies is constructed. Without attempting to point out the practical application of the theory to the problem of rating manufacturing risks I should like to go a little deeper than Mr. Downey and Mr. Wilson have gone into the mathematics of the schedule and explain the development of its general formula.