You are given:(i)Claim size, X, has mean µ and variance 500.(ii)The random variable µ has a mean of 1000 and variance of 50.(iii)The following three claims were observed: 750, 1075, 2000Calculate the expected size of the next claim using Bühlmann credibility.(A)1025(B)1063(C)1115(D)1181(E)1266

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Answered: You are given: (i) Claim size, X, has…

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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Sample of 40 sizes were taken from Group A and a sample of 39 sizes were taken from Group B. Group A had a sample average of 3.5 and Group B had a sample average of 3.9. Group A standard deviation is 1.1 and standard deviation of Group B is 1.9. Test to see if there is a statistically significant difference between the average sizes using a 5% level of significance. Which is the most logical conclusion: 1) There is not enough evidence to support that the mean sizes are different or 2) We reject the null hypothesis that there is no difference between the mean sizes? Why?
When dragons on planet Pern lay eggs, the eggs are either green or yellow. The biologists have observed over the years that 29% of the eggs are yellow, and the rest green. Next spring the lead scientist has permission to randomly select 52 of the dragon eggs to incubate. Consider all the possible samples of 52 dragon eggs.What is the mean number of yellow eggs in samples of 52 eggs? (that is the same as asking for the expected value of the number of yellow eggs) (Give answer correct to at least one decimal place.) mean = What is the standard deviation in the number of yellow eggs in samples of size 52? (Give answer correct to at least one decimal place.) standard deviation = What is the variance in the number of yellow eggs in samples of size 52? (Remember to calculate the answer using at least 5 decimal places, then give answer correct to at least one decimal place.) variance =
(i) Claim size, X, has mean µ and variance 500. (ii) The random variable u has a mean of 1000 and variance of 50. (iii) The following three claims were observed: 750, 1075, 2000 Calculate the expected size of the next claim using Bühlmann credibility. (A) 1025 (B) 1063 (C) 1115 (D) 1181 (E) 1266
An automobile insurer has found that repair claims are Normally distributed with a mean of $530 and a standard deviation of $470.
Using the information provided below, calculate the pooled variance (s) when needed and then estimated standard error (SM₁-M₂): a) n₁=28, SS₁ = 88 | n2 = 32, SS₂ = 76 = ² b) n₁=9 SS₁=1554 | n² = 13, SS₂ =1492 : s²/ c) n₁ =20,s² = 0.88 | n2 =20, s² = 0.75 : s² = d) n₁ =18, s² = 2.38 | n2 = 16, s² =3.30 : s 11 SM₂-M₂ SM₂-M₂ SM₁-M₂² SM₁-M₂²
can you find two tailed test p value for given data sample size 14 test statistics -2.23
If the variance in the weights of one sample of 12 oz. cookies is 3 oz. and the variance in a second sample, made in another factory, is only 1 oz. is there a real difference in variances between the two? (Estimate at 95% probability level, using 2-tail test). Use the appropriate test statistic to determine this, and assume there are 9 degrees of freedom for each sample. Yes no maybe none of the above.
3. Yoonie is a personnel manager in a large corporation. Each month she must review 16 of the employees. From past experience, she has found that the reviews take her approximately four hours each to do with a population standard deviation of 1.2 hours. Let X be the random variable representing the time it takes her to complete one review. Assume X is normally distributed. Let X be the random variable representing the mean time to complete the 16 reviews. Assume that the 16 reviews represent a random set of reviews.Find the 95th percentile for the mean time to complete one month's reviews.
When dragons on planet Pern lay eggs, the eggs are either green or yellow. The biologists have observed over the years that 20% of the eggs are yellow, and the rest green. Next spring the lead scientist has permission to randomly select 67 of the dragon eggs to incubate. Consider all the possible samples of 67 dragon eggs. What is the mean number of yellow eggs in samples of 67 eggs? (that is the same as asking for the expected value of the number of yellow eggs) (Give answer correct to at least one decimal place.) mean = What is the standard deviation in the number of yellow eggs in samples of size 67? (Give answer correct to at least one decimal place.) standard deviation = What is the variance in the number of yellow eggs in samples of size 67? (Remember to calculate the answer using at least 5 decimal places, then give answer correct to at least one decimal place.) variance =
The coach of a basketball team thinks the referee is using a weighted coin to decide which team gets the ball. He looks at the last 140 coin tosses and observes that there were 85 heads and 55 tails. Answer the following questions. (1) What is the null hypothesis? The observed frequency is not different than the expected frequency, meaning that the coin is biased The observed frequency is not different than the expected frequency, meaning that the coin is fair. The observed frequency is different than the expected frequency, meaning that the coin is fair. The observed frequency is different than the expected frequency, meaning that the coin is biased. (2) What is the calculated value of chi-square? (3) How many degrees of freedom are there? (4) Assuming alpha is equal to .05, what is the critical value? (5) What is your decision? Fail to reject the null and decide that the coin is fair. Fail to reject the null and decide that the coin is biased. Reject the null and decide that…
When dragons on planet Pern lay eggs, the eggs are either green or yellow. The biologists have observed over the years that 34% of the eggs are yellow, and the rest green. Next spring the lead scientist has permission to randomly select 51 of the dragon eggs to incubate. Consider all the possible samples of 51 dragon eggs.What is the mean number of yellow eggs in samples of 51 eggs? (that is the same as asking for the expected value of the number of yellow eggs)(Give answer correct to at least one decimal place.)mean = What is the standard deviation in the number of yellow eggs in samples of size 51?(Give answer correct to at least one decimal place.)standard deviation = What is the variance in the number of yellow eggs in samples of size 51?(Remember to calculate the answer using at least 5 decimal places, then give answer correct to at least one decimal place.)variance =
When dragons on planet Pern lay eggs, the eggs are either green or yellow. The biologists have observed over the years that 37% of the eggs are yellow, and the rest green. Next spring the lead scientist has permission to randomly select 67 of the dragon eggs to incubate. Consider all the possible samples of 67 dragon eggs. What is the mean number of yellow eggs in samples of 67 eggs? (that is the same as asking for the expected value of the number of yellow eggs) (Give answer correct to at least one decimal place.) mean = What is the standard deviation in the number of yellow eggs in samples of size 67? (Give answer correct to at least one decimal place.) standard deviation = What is the variance in the number of yellow eggs in samples of size 67? (Remember to calculate the answer using at least 5 decimal places, then give answer correct to at least one decimal place.) variance =

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