Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
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Question
Chapter 10.3, Problem 10.26ACB
a.
To determine
To specify: The null and alternative hypothesis for testing whether Type of comment posted to TripAdvisor depends on Gender.
b.
To determine
To locate: The p-value of the chi-square test for independence on the XLSTAT printout.
To compare: The printout value with
To make: Appropriate conclusion.
c.
To determine
To examine: The expected cell counts shown on the printout and read the accompanying note at the bottom of the output.
To explain: Why the inference you made in part b may be invalid.
d.
To determine
To make: A conclusion by using the exact p-value shown at printout and apply Fisher’s exact test for the contingency.
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Questions
An insurance company's cumulative incurred claims for the last 5 accident years are given
in the following table:
Development Year
Accident Year 0
2018
1 2 3 4
245 267 274 289 292
2019
255 276 288 294
2020
265 283 292
2021
263 278
2022
271
It can be assumed that claims are fully run off after 4 years. The premiums received for
each year are:
Accident Year Premium
2018
306
2019
312
2020
318
2021
326
2022
330
You do not need to make any allowance for inflation.
1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method.
(b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method.
2. Comment on the differences in the reserves produced by the methods in Part 1.
You are provided with data that includes all 50 states of the United States. Your task is to draw a sample of: o 20 States using Random Sampling (2 points: 1 for random number generation; 1 for random sample) o 10 States using Systematic Sampling (4 points: 1 for random numbers generation; 1 for random sample different from the previous answer; 1 for correct K value calculation table; 1 for correct sample drawn by using systematic sampling) (For systematic sampling, do not use the original data directly. Instead, first randomize the data, and then use the randomized dataset to draw your sample. Furthermore, do not use the random list previously generated, instead, generate a new random sample for this part. For more details, please see the snapshot provided at the end.) Upload a Microsoft Excel file with two separate sheets. One sheet provides random sampling while the other provides systematic sampling. Excel snapshots that can help you in organizing columns are provided on the next…
Chapter 10 Solutions
Statistics for Business and Economics (13th Edition)
Ch. 10.2 - Find the rejection region for a one-dimensional 2...Ch. 10.2 - What are the characteristics of a multinomial...Ch. 10.2 - What conditions must n satisfy to make the 2 test...Ch. 10.2 - A multinomial experiment with k = 3 cells and n =...Ch. 10.2 - Prob. 10.5LMCh. 10.2 - Cable TV subscriptions and cord cutters. Refer to...Ch. 10.2 - Do social robots walk or roll? Refer to the...Ch. 10.2 - Rankings of MBA programs. Business Ethics (Fall...Ch. 10.2 - Museum management. Refer to the Museum Management...Ch. 10.2 - Offshoring companies. Offshoring is a term that...
Ch. 10.2 - Prob. 10.11ACICh. 10.2 - Prob. 10.12ACICh. 10.2 - Mobile device typing strategies. Text messaging on...Ch. 10.2 - Prob. 10.14ACICh. 10.2 - Coupon user study. A hot topic in marketing...Ch. 10.2 - Cell phone user survey. If you subscribe to a cell...Ch. 10.2 - Overloading in the trucking industry. Although...Ch. 10.2 - Political representation of religious groups. Do...Ch. 10.3 - Find the rejection region for a test of...Ch. 10.3 - Consider the 2 3 (i e., r = 2 and = 3)...Ch. 10.3 - Refer to Exercise 10.20. a. Convert the frequency...Ch. 10.3 - Test the null hypothesis of independence of the...Ch. 10.3 - Refer to Exercise 10.22. a. Convert the responses...Ch. 10.3 - Safety of hybrid cars. According to the Highway...Ch. 10.3 - Purchasing souvenirs. A major tourist activity is...Ch. 10.3 - Prob. 10.26ACBCh. 10.3 - Are travel professionals equitably paid? Business...Ch. 10.3 - Eyewitnesses and mugshots. Refer to the Applied...Ch. 10.3 - Package design influences taste. Can the package...Ch. 10.3 - Job satisfaction of women in construction. The...Ch. 10.3 - Offshoring companies. Refer to The Journal of...Ch. 10.3 - Prob. 10.32ACICh. 10.3 - Prob. 10.33ACICh. 10.3 - Prob. 10.34ACICh. 10.3 - Prob. 10.35ACICh. 10.3 - Prob. 10.36ACICh. 10.3 - Prob. 10.37ACICh. 10.3 - Coupon user study. Refer to the study of a...Ch. 10.3 - Examining the Monty Hall Dilemma. In Exercise...Ch. 10 - A random sample of 250 observations was classified...Ch. 10 - Prob. 10.41LMCh. 10 - Made in the USA survey. Refer to the Journal of...Ch. 10 - Prob. 10.43ACBCh. 10 - Survey on giving and volunteering (continued)....Ch. 10 - Stereotyping in deceptive and authentic news...Ch. 10 - Prob. 10.46ACBCh. 10 - Prob. 10.47ACICh. 10 - Pig farm study. An article in Sociological Methods...Ch. 10 - Management system failures. Refer to the Process...Ch. 10 - History of corporate acquisitions. Refer to the...Ch. 10 - Creating menus to influence others. Refer to the...Ch. 10 - Prob. 10.52ACICh. 10 - Prob. 10.53ACICh. 10 - Prob. 10.54ACICh. 10 - Flight lesponse of geese to helicopter traffic....Ch. 10 - Prob. 10.56ACACh. 10 - Goodness-of-fit test. A statistics analysis is to...Ch. 10 - Prob. 10.58CTCCh. 10 - A television station has hired an independent...Ch. 10 - Suppose the television station believes that a...Ch. 10 - Generalize the situations in Exercises 1 and 2 to...Ch. 10 - In this Activity, you will revisit Activity 3.1,...Ch. 10 - Prob. 10.2.2ACh. 10 - Perform a x2 test for independence for the example...
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