An insurer has data on losses for four policyholders for 7 years. The loss from the ithpolicyholder for year j is Xy.You are given:4 72= 33.60È(X,- x)° = 3.30Using nonparametric empirical Bayes estimation, calculate the Bühlmann credibility factorfor an individual policyholder.(A)Less than 0.74(В)At least 0.74, but less than 0.77(C)At least 0.77, but less than 0.80(D)At least 0.80, but less than 0.83(E)At least 0.83

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Answered: An insurer has data on losses for four…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Find the variance if X~N(0, 7) and 95% of the data are between -7 and 7.
Q3. Calculate Estimated Standard error (SE)from the following data: 3 4 5 2 1 y 3 4 6.
Consider a dataset with 25 observations and a multiple linear regression model with 4 independent variables. Assume you have estimated the parameters in the model and you find that SSE = 2,389.75 and the SSR = 12,125.25 Find the range that best represents the value of adjusted r-squared, R². (a) R² < 0.80 (b) (c) (d) (e) 0.80 ≤ R² < 0.85 0.85 ≤ R² < 0.90 0.90 ≤ R² < 0.95 0.95 ≤ R²
6. What is wrong with the following line graph? Frequency 30 25- 20 15- 10- 5- 0 5 10 20 25 27 30
A statistics professor wants to use the number of hours a student studies for a statistic final exam (x) to predict the final exam score (y). A regression model was fit based on data collected for a class during the previous semester, with the following results: y =35.0 + 3x Which of the following is the correct interpretation of the regression coefficient (slope)? Select the correct response: When the student does not study for the final exam, the mean final exam score is 35.0. None of the above are an interpretation of the slope For each increase of one hour in studying time, the mean change in the final exam score is predicted to be 35.0 For each increase of one hour in studying time, the mean change in the final exam score is predicted to be 3.0.
The number of banks in a country has been dropping steadily since 1984, and the trend in recent years has been roughly linear. The annual data for the years 1999 through 2008 can be summarized as follows, where x represents the years since 1990 and y the number of banks, in thousands. n=10 Ex-235 ²-5605 Ey-77.564 Ey²=603.80424 Exy-1810.155 a. Find an equation for the least squares line. b. Use your result from part a to predict the number of banks in the year 2020. c. If this trend continues linearly, in what year will the number of banks drop below 6200? d. Find and interpret the correlation coefficient.
4. Suppose you are given the following information: = 49.6870 – 2.1586X; r2 = 0.9757 (0.7463) (0.12113) df=8 T= (66.578) (-17.821) p-value = (0.000) (0.000) a) Conduct a two tailed hypothesis test that: i) The intercept is 49 and the slope coefficient is -2, use 1% significance. ii) Confirm your deductions to 4(a) (i) using a confidence interval approach b) What does the r2 tell you? c) Perform a hypothesis using r2, such that p=D0, what do you conclude?
The daily price of orange juice 30-day futures is normally distributed. InMarch through April 2007, the mean was 145.5 cents per pound, and standarddeviation = 25.0 cents per pound.4 Assuming the price is independent from day today, find P (x < 100) on the next day.
The least-squares regression equation is y=620.6x+16,624 where y is the median income and x is the percentage of 25 years and older with at least a bachelor's degree in the region. The scatter diagram indicates a linear relation between the two variables with a correlation coefficient of 0.7004. Predict the median income of a region in which 30% of adults 25 years and older have at least a bachelor's degree.
The expectation of X, which is also known as the mean or average, is E(X) = 7 and the Variance of X is var(X) =4. Using the equation Y = 11X + 81. What are the expected value E(Y), variance VAR(Y), and standard deviation SD(Y) of this expression.

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