Practical Business Math Procedures
12th Edition
ISBN: 9781259540554
Author: Jeffrey Slater, Sharon Wittry
Publisher: McGraw-Hill Education
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Chapter 10.2, Problem 1PQ
To determine
The principal amount using the given simple interest, interest rate and time.
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Answer the questions
~
exp(10). A
3. Claim number per policy is modelled by Poisson(A) with A
sample x of N = 100 policies presents an average = 4 claims per policy.
(i) Compute an a priory estimate of numbers of claims per policy.
[2 Marks]
(ii) Determine the posterior distribution of A. Give your argument.
[5 Marks]
(iii) Compute an a posteriori estimate of numbers of claims per policy.
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Chapter 10 Solutions
Practical Business Math Procedures
Ch. 10.1 - Calculate simple interest (rounded to the nearest...Ch. 10.1 - Calculate simple interest (rounded to the nearest...Ch. 10.1 - Calculate simple interest (rounded to the nearest...Ch. 10.1 - Prob. 4PQCh. 10.1 - Prob. 5PQCh. 10.1 - Prob. 1EPQCh. 10.1 - Calculate simple interest (rounded to the nearest...Ch. 10.1 - Prob. 3EPQCh. 10.1 - Prob. 4EPQCh. 10.1 - Calculate simple interest (rounded to the nearest...
Ch. 10.1 - Prob. 1AHCh. 10.1 - Prob. 2AHCh. 10.1 - Prob. 3AHCh. 10.1 - Prob. 4AHCh. 10.1 - Prob. 5AHCh. 10.1 - Prob. 6AHCh. 10.1 - Prob. 7AHCh. 10.1 - Prob. 8AHCh. 10.1 - Dianne Smith’s real estate taxes of $641.49 were...Ch. 10.1 - Prob. 10AHCh. 10.1 - Prob. 11AHCh. 10.1 - AFBA Industrial Bank of Colorado Springs,...Ch. 10.2 - Complete the following (assume 360 days):
Ch. 10.2 - Prob. 2PQCh. 10.2 - Prob. 3PQCh. 10.2 - Prob. 1EPQCh. 10.2 - Prob. 2EPQCh. 10.2 - Prob. 3EPQCh. 10.2 - Prob. 1AHCh. 10.2 - Prob. 2AHCh. 10.2 - Prob. 3AHCh. 10.2 - Prob. 4AHCh. 10.2 - Prob. 5AHCh. 10.2 - Prob. 6AHCh. 10.2 - Prob. 7AHCh. 10.2 - Prob. 8AHCh. 10.2 - Prob. 9AHCh. 10.2 - Prob. 10AHCh. 10.2 - Prob. 11AHCh. 10.3 - Polly Flin borrowed $5,000 for 60 days at 8%. On...Ch. 10.3 - Prob. 1EPQCh. 10.3 - Prob. 1AHCh. 10.3 - Prob. 2AHCh. 10.3 - Prob. 3AHCh. 10.3 - Prob. 4AHCh. 10.3 - Prob. 5AHCh. 10 - Prob. 1ECPCh. 10 - Calculate the simple interest and maturity value...Ch. 10 - Prob. 3ECPCh. 10 - Prob. 4ECPCh. 10 - Prob. 5ECPCh. 10 - Complete the following, using ordinary...Ch. 10 - Prob. 7ECPCh. 10 - Prob. 8ECPCh. 10 - Complete the following, using exact interest: LU...Ch. 10 - Prob. 10ECPCh. 10 - Prob. 11ECPCh. 10 - Prob. 12ECPCh. 10 - Prob. 13ECPCh. 10 - Diane Van Os decided to buy a used snowmobile...Ch. 10 - Prob. 15ECPCh. 10 - Prob. 16ECPCh. 10 - Kelly O’Brien met Jody Jansen (Problem 10–16) at...Ch. 10 - On May 3, 2016, Leven Corp. negotiated a...Ch. 10 - Gordon Rosel went to his bank to find out how long...Ch. 10 - Prob. 20ECPCh. 10 - Prob. 21ECPCh. 10 - Prob. 22ECPCh. 10 - Prob. 23ECPCh. 10 - Lane French had a bad credit rating and went to a...Ch. 10 - Prob. 25ECPCh. 10 - Prob. 26ECPCh. 10 - Prob. 27ECPCh. 10 - Prob. 28ECPCh. 10 - Prob. 29ECPCh. 10 - Prob. 30ECPCh. 10 - Prob. 31ECPCh. 10 - Evander Holyfield (the champion boxer who had part...Ch. 10 - Prob. 33ECPCh. 10 - Prob. 34ECPCh. 10 - Prob. 35ECPCh. 10 - Debbie McAdams paid 8% interest on a $12,500 loan...Ch. 10 - Janet Foster bought a computer and printer at...Ch. 10 - Lorna Hall’s real estate tax of $2,010.88 was due...Ch. 10 - Ann Hopkins borrowed $60,000 for her child’s...Ch. 10 - Prob. 3PTCh. 10 - Prob. 4PTCh. 10 - Prob. 5PTCh. 10 - Prob. 6PT
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