(1)Losses for each employee of a given policyholder are independent and have a commonmean and variance.(ii)The overall average loss per employee for all policyholders is 20.(iii)The variance of the hypothetical means is 40.(iv)The expected value of the process variance is 8000.(v)The following experience is observed for a randomly selected policyholder:Average Loss perEmployee15Number ofYearEmployees8001210600400Determine the Bühlmann-Straub credibility premium per employee for this policyholder.(A)Less than 10.5(В)At least 10.5, but less than 11.5(C)At least 11.5, but less than 12.5(D)At least 12.5, but less than 13.5(E)At least 13.5

Answered: Image /qna-images/answer/1638c2b5-c33e-48fc-8dc5-08298b312d2a.jpg

Answered: i) Losses for each employee of a given…

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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An investment adviser is helping a couple plan a retirement portfolio. The adviser has recommended three stocks—Allied Electronics, Bank United, and Consolidated Computers. Following are the annual return and variance for each stock and the covariance between stocks: The couple wants a total portfolio return of at least .11. Determine the proportion of each stock to include in the portfolio to minimize the overall risk
A graduate student is interested in how viewing different types of scenes affects working memory. For his study, he selects a random sample of 36 adults. The subjects complete a series of working memory tests before and after walking in an urban setting. Before the walk, the mean score on the test of working memory was 9.1. After the walk, the mean score was 1.4 higher. The graduate student has no presupposed assumptions about how viewing different types of scenes affects working memory, so he formulates the null and alternative hypotheses as: H00 : μDD = 0 H11 : μDD ≠ 0 Assume that the data satisfy all of the required assumptions for a repeated-measures t test. The graduate student calculates the following statistics for his hypothesis test: Mean difference (MDD) 1.4 Estimated population standard deviation of the differences (s) 1.6 Estimated standard error of the mean differences (sMDMD) 0.2667 Degrees of freedom (df) 35 The t statistic 5.25 The critical values of t…
Three students, Linda, Tuan, and Javier, are given five laboratory rats each for a nutritional experiment. Each rat's weight is recorded in grams. Linda feeds her rats Formula A, Tuan feeds his rats Formula B, and Javier feeds his rats Formula C. At the end of a specified time period, each rat is weighed again, and the net gain in grams is recorded. Using a significance level of 10%, test the hypothesis that the three formulas produce the same mean weight gain. (Let 1 = Linda's rats, 2 = Tuan's rats and 3 = Javier's rats.) Weights of Student Lab Rats Linda's rats Tuan's rats Javier's rats 43.0 46.9 51.1 38.5 40.1 40.4 40.7 38.4 37.1 45.8 45.7 44.8 37.8 43.6 47.7 Part (a) State the null hypothesis. H0: ?1 = ?2 = ?3 H0: At least two of the group means ?1, ?2, ?3 are not equal. Part (b) State the alternative hypothesis. Ha: ?1 = ?2 = ?3 Ha: At least two of the group means ?1, ?2, ?3 are not equal. Part (c) Enter an exact number as an…
11.a)Consider a data set for which we calculate the variance using both the population equation and the sample equation. If the sample equation gives us a value 11% higher than the population equation, how many values are in the data set? 5 6 7 8 9 10 11 12 13 14 15
A statistical program is recommended. Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage (hours) Annual Maintenance Expense 13 17.0 10 22.0 20 30.0 28 37.0 32 47.0 17 30.5 24 32.5 31 39.0 40 51.5 38 40.0 (a) Develop the estimated regression equation that could be used to predict the annual maintenance expense (in hundreds of dollars) given the weekly usage (in hours). (Round your numerical values to two decimal places.)
5.Stocks and Mutual Fund Ownership It has been found that 51.4% of U.S. households own stocks and mutual funds. A random sample of 300 heads of households indicated that 178 owned some type of stock. At what level of significance would you conclude that this was a significant difference? Use the P-value method. Assume the variable normally distributed. Use a graphing calculator. Find the P-value. At what level of significance is this a significant difference?
Vaughn Family Instruments makes cellos. During the past year, the company made 6,560 cellos even though the budget planned for only 5,710. The company paid its workers an average of $20 per hour, which was $0.50 higher than the standard labor rate. The production manager budgets 4 direct labor hours per cello. During the year, a total of 24,450 direct labor hours were worked.(a) Calculate the direct labor rate and efficiency variances. (If variance is zero, select "Not Applicable" and enter 0 for the amounts.) Direct labor rate variance $enter the direct labor rate variance in dollars select an option Direct labor efficiency variance $
4.A college student is interested in whether there is a difference between male and female students in the amount of time they spend studying each week period the student gathers information from a random sample of male and female students on campus. The amount of time spent studying is normally distributed. The data are: Male Female 27 25 25 29 19 18 10 23 16 20 22 15 14 19 What statistical test should be done to analyze these data? Identify Ho and Ha for this study. Conduct the appropriate analysis. Should Ho be rejected? What should the researcher conclude? If significant, compute and interpret the effect size.
A statistical program is recommended. Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage(hours) AnnualMaintenanceExpense 13 17.0 10 22.0 20 30.0 28 37.0 32 47.0 17 30.5 24 32.5 31 39.0 40 51.5 38 40.0 #1) Develop the estimated regression equation that could be used to predict the annual maintenance expense (in hundreds of dollars) given the weekly usage (in hours). (Round your numerical values to two decimal places.) #2) The expected expense of a machine being used 34 hours per week is $ hundred.

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