Essentials of Statistics for The Behavioral Sciences (MindTap Course List)
9th Edition
ISBN: 9781337098120
Author: Frederick J Gravetter, Larry B. Wallnau, Lori-Ann B. Forzano
Publisher: Cengage Learning
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Chapter 10.3, Problem 3LC
To determine
To Identify: The correct null hypothesis for Hartley's F-maxtest.
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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.
To help consumers in purchasing a laptop computer, Consumer Reports calculates an overall test score for each computer tested based upon rating factors such as ergonomics, portability, performance, display, and battery life. Higher overall scores indicate better test results. The following data show the average retail price and the overall score for ten 13-inch models (Consumer Reports website, October 25, 2012).
Brand & Model
Price ($)
Overall Score
Samsung Ultrabook NP900X3C-A01US
1250
83
Apple MacBook Air MC965LL/A
1300
83
Apple MacBook Air MD231LL/A
1200
82
HP ENVY 13-2050nr Spectre XT
950
79
Sony VAIO SVS13112FXB
800
77
Acer Aspire S5-391-9880 Ultrabook
1200
74
Apple MacBook Pro MD101LL/A
1200
74
Apple MacBook Pro MD313LL/A
1000
73
Dell Inspiron I13Z-6591SLV
700
67
Samsung NP535U3C-A01US
600
63
a. Select a scatter diagram with price as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship…
To the Internal Revenue Service, the reasonableness of total itemized deductions depends on the taxpayer’s adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income ($1000s)
Reasonable Amount ofItemized Deductions ($1000s)
22
9.6
27
9.6
32
10.1
48
11.1
65
13.5
85
17.7
120
25.5
Compute b1 and b0 (to 4 decimals).b1 b0 Complete the estimated regression equation (to 2 decimals). = + x
Predict a reasonable level of total itemized deductions for a taxpayer with an adjusted gross income of $52.5 thousand (to 2 decimals). thousand dollarsWhat is the value, in dollars, of…
Chapter 10 Solutions
Essentials of Statistics for The Behavioral Sciences (MindTap Course List)
Ch. 10.1 - Which of the following is most likely to be an...Ch. 10.1 - Which of the following is most likely to be a...Ch. 10.1 - An independent-measures study comparing two...Ch. 10.2 - Which of the following is the correct null...Ch. 10.2 - Prob. 2LCCh. 10.2 - Prob. 3LCCh. 10.2 - Prob. 4LCCh. 10.3 - What is the value of the independent-measures t...Ch. 10.3 - Prob. 2LCCh. 10.3 - Prob. 3LC
Ch. 10.4 - Prob. 1LCCh. 10.4 - Which of the following is not an accurate...Ch. 10.4 - Prob. 3LCCh. 10.4 - Prob. 4LCCh. 10.5 - Which of the following accurately describes how...Ch. 10.5 - Which of the following accurately describes how...Ch. 10.5 - Which of the following sets of data would produce...Ch. 10 - Describe the basic characteristics that define an...Ch. 10 - Describe what is measured by the estimated...Ch. 10 - One sample has SS = 36 and a second sample has SS...Ch. 10 - One sample has SS = 60 and a second sample has SS...Ch. 10 - Two separate samples, each with n = 9 individuals,...Ch. 10 - Two separate samples receive different treatments....Ch. 10 - Research results suggest a relationship between...Ch. 10 - Does posting caloric content for menu items affect...Ch. 10 - A long history of psychology research has...Ch. 10 - Recent research has shown that creative people are...Ch. 10 - Recent research has demonstrated that music-based...Ch. 10 - McAllister et al. (2012) compared varsity football...Ch. 10 - Zhou and Vohs (2009) published a study showing...Ch. 10 - In a classic study in the area of problem solving...Ch. 10 - A researcher conducts an independent-measures...Ch. 10 - In a recent study, Piff, Kraus, Ct, Cheng, and...Ch. 10 - Describe the homogeneity of variance assumption...Ch. 10 - If other factors are held constant explain how...Ch. 10 - As noted on page 275, when the two population...Ch. 10 - Two samples are selected from the same population....Ch. 10 - For each of the following, assume that the two...Ch. 10 - For each of the following, calculate the pooled...Ch. 10 - It appears that there is some truth to the old...Ch. 10 - In 1974, Loftus and Palmer conducted a classic...
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