Elementary Statistics: Picturing the World (6th Edition)
6th Edition
ISBN: 9780321911216
Author: Ron Larson, Betsy Farber
Publisher: PEARSON
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Question
Chapter 1.1, Problem 14E
To determine
Whether the annual salary of each pharmacist at a pharmacy can be considered as a population or a sample.
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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.
A population that is uniformly distributed between a=0and b=10 is given in sample sizes
50( ),
100( ),
250( ),
and
500( ).
Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below.
Standard Error of the
Mean =sigma/Root
Complete the following table with the results from the sampling experiment.
(Round to four decimal places as needed.)
Sample Size
Average of 8 Sample Means
Standard Deviation of 8 Sample Means
Standard Error
50
100
250
500
A survey of
250250
young professionals found that
two dash thirdstwo-thirds
of them use their cell phones primarily for e-mail. Can you conclude statistically that the population proportion who use cell phones primarily for e-mail is less than
0.720.72?
Use a 95% confidence interval.
Question content area bottom
Part 1
The 95% confidence interval is
left bracket nothing comma nothing right bracket0.60820.6082, 0.72510.7251.
As
0.720.72
is
within the limits
of the confidence interval, we
cannot
conclude that the population proportion is less than
0.720.72.
(Use ascending order. Round to four decimal places as needed.)
Chapter 1 Solutions
Elementary Statistics: Picturing the World (6th Edition)
Ch. 1.1 - Prob. 1TYCh. 1.1 - Prob. 2TYCh. 1.1 - Prob. 3TYCh. 1.1 - How is a sample related to a population?Ch. 1.1 - Why is a sample used more often than a population?Ch. 1.1 - What is the difference between a parameter and a...Ch. 1.1 - What are the two main branches of statistics?Ch. 1.1 - True or False? In Exercises 510, determine whether...Ch. 1.1 - True or False? In Exercises 510, determine whether...Ch. 1.1 - True or False? In Exercises 510, determine whether...
Ch. 1.1 - True or False? In Exercises 510, determine whether...Ch. 1.1 - True or False? In Exercises 510, determine whether...Ch. 1.1 - True or False? In Exercises 510, determine whether...Ch. 1.1 - Prob. 11ECh. 1.1 - Prob. 12ECh. 1.1 - Prob. 13ECh. 1.1 - Prob. 14ECh. 1.1 - Prob. 15ECh. 1.1 - Prob. 16ECh. 1.1 - Prob. 17ECh. 1.1 - Prob. 18ECh. 1.1 - Prob. 19ECh. 1.1 - Prob. 20ECh. 1.1 - Graphical Analysis In Exercises 2124, use the Venn...Ch. 1.1 - Prob. 22ECh. 1.1 - Prob. 23ECh. 1.1 - Prob. 24ECh. 1.1 - Prob. 25ECh. 1.1 - Prob. 26ECh. 1.1 - Prob. 27ECh. 1.1 - Prob. 28ECh. 1.1 - Prob. 29ECh. 1.1 - Prob. 30ECh. 1.1 - Prob. 31ECh. 1.1 - Prob. 32ECh. 1.1 - Prob. 33ECh. 1.1 - Prob. 34ECh. 1.1 - Prob. 35ECh. 1.1 - Prob. 36ECh. 1.1 - Distinguishing Between a Parameter and a Statistic...Ch. 1.1 - Prob. 38ECh. 1.1 - Prob. 39ECh. 1.1 - Prob. 40ECh. 1.1 - Prob. 41ECh. 1.1 - Prob. 42ECh. 1.1 - Prob. 43ECh. 1.1 - Prob. 44ECh. 1.1 - Prob. 47ECh. 1.1 - Prob. 48ECh. 1.2 - Prob. 1TYCh. 1.2 - Prob. 2TYCh. 1.2 - Prob. 3TYCh. 1.2 - Name each level of measurement for which data can...Ch. 1.2 - Name each level of measurement for which data can...Ch. 1.2 - True or False? In Exercises 36, determine whether...Ch. 1.2 - True or False? In Exercises 36, determine whether...Ch. 1.2 - True or False? In Exercises 36, determine whether...Ch. 1.2 - True or False? In Exercises 36, determine whether...Ch. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.2 - Prob. 9ECh. 1.2 - Classifying Data by Type In Exercises 714,...Ch. 1.2 - Prob. 11ECh. 1.2 - Prob. 12ECh. 1.2 - Prob. 13ECh. 1.2 - Prob. 14ECh. 1.2 - Prob. 15ECh. 1.2 - Prob. 16ECh. 1.2 - Prob. 17ECh. 1.2 - Classifying Data By Level In Exercises 1520,...Ch. 1.2 - Prob. 19ECh. 1.2 - Prob. 20ECh. 1.2 - Prob. 21ECh. 1.2 - Prob. 22ECh. 1.2 - Prob. 23ECh. 1.2 - Prob. 24ECh. 1.2 - The items below appear on a physician's intake...Ch. 1.2 - Graphical Analysis In Exercises 2124, determine...Ch. 1.2 - Prob. 27ECh. 1.2 - Prob. 28ECh. 1.2 - Classifying Data by Type and Level In Exercises...Ch. 1.2 - Prob. 30ECh. 1.2 - Prob. 31ECh. 1.2 - Prob. 32ECh. 1.2 - Prob. 33ECh. 1.2 - Prob. 34ECh. 1.2 - Prob. 1CSCh. 1.2 - Prob. 2CSCh. 1.2 - Prob. 3CSCh. 1.2 - Prob. 4CSCh. 1.2 - Prob. 5CSCh. 1.2 - Prob. 6CSCh. 1.2 - Prob. 7CSCh. 1.2 - Prob. 8CSCh. 1.3 - Prob. 1TYCh. 1.3 - Prob. 2TYCh. 1.3 - Prob. 3TYCh. 1.3 - Prob. 4TYCh. 1.3 - What is the difference between an observational...Ch. 1.3 - What is the difference between a census and a...Ch. 1.3 - What is the difference between a random sample and...Ch. 1.3 - What is replication in an experiment? Why is...Ch. 1.3 - True or False? In Exercises 510, determine whether...Ch. 1.3 - True or False? In Exercises 510, determine whether...Ch. 1.3 - True or False? In Exercises 510, determine whether...Ch. 1.3 - Prob. 8ECh. 1.3 - True or False? In Exercises 510, determine whether...Ch. 1.3 - True or False? In Exercises 510, determine whether...Ch. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Random Number Table Use the sixth row of Table 1...Ch. 1.3 - Random Number Table Use the tenth row of Table 1...Ch. 1.3 - Random Numbers In Exercises 17 and 18, use...Ch. 1.3 - Random Numbers In Exercises 17 and 18, use...Ch. 1.3 - Sleep Deprivation A researcher wants to study the...Ch. 1.3 - Using a Simple Random Sample Volunteers for an...Ch. 1.3 - Prob. 23ECh. 1.3 - Prob. 24ECh. 1.3 - Prob. 25ECh. 1.3 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1.3 - Prob. 27ECh. 1.3 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1.3 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1.3 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1.3 - Choosing Between a Census and a Sampling In...Ch. 1.3 - Choosing Between a Census and a Sampling In...Ch. 1.3 - Recognizing a Biased Question In Exercises 3134,...Ch. 1.3 - Recognizing a Biased Question In Exercises 3134,...Ch. 1.3 - Recognizing a Biased Question In Exercises 3134,...Ch. 1.3 - Prob. 36ECh. 1.3 - Prob. 37ECh. 1.3 - Natural Experiments Observational studies are...Ch. 1.3 - Open and Closed Questions Two types of survey...Ch. 1.3 - Prob. 40ECh. 1.3 - Prob. 1ACh. 1.3 - In Exercises 14, identify the population and the...Ch. 1 - Prob. 1.1.1RECh. 1 - Prob. 1.1.2RECh. 1 - Prob. 1.1.3RECh. 1 - Prob. 1.1.4RECh. 1 - Prob. 1.1.5RECh. 1 - Prob. 1.1.6RECh. 1 - Which part of the survey described in Exercise 3...Ch. 1 - Prob. 1.1.8RECh. 1 - Prob. 1.1.9RECh. 1 - Prob. 1.1.10RECh. 1 - In Exercises 1114, determine whether the data are...Ch. 1 - In Exercises 1114, determine whether the data are...Ch. 1 - In Exercises 1518, determine the level of...Ch. 1 - In Exercises 1518, determine the level of...Ch. 1 - Prob. 1.2.15RECh. 1 - In Exercises 1518, determine the level of...Ch. 1 - In Exercises 19 and 20, determine whether the...Ch. 1 - Prob. 1.2.18RECh. 1 - Prob. 1.3.19RECh. 1 - Prob. 1.3.20RECh. 1 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1 - Prob. 1.3.25RECh. 1 - Identifying Sampling Techniques In Exercises 2328,...Ch. 1 - You want to know the favorite spring break...Ch. 1 - A study of the dietary habits of 359,264 Korean...Ch. 1 - Prob. 1.3.29RECh. 1 - Determine whether each number describes a...Ch. 1 - Prob. 1CQCh. 1 - Prob. 2CQCh. 1 - Determine whether the study is an observational...Ch. 1 - An experiment is performed to test the effects of...Ch. 1 - Prob. 5CQCh. 1 - Which technique used in Exercise 7 could lead to a...Ch. 1 - Determine whether you would take a census or use a...Ch. 1 - Determine whether each number describes a...Ch. 1 - Prob. 1CTCh. 1 - Prob. 2CTCh. 1 - Identify the sampling technique used, and discuss...Ch. 1 - Prob. 4CTCh. 1 - Determine whether the survey question is biased....Ch. 1 - Prob. 6CTCh. 1 - Prob. 1RSRDCh. 1 - Prob. 2RSRDCh. 1 - Prob. 3RSRDCh. 1 - The SEC (Securities and Exchange Commission) is...Ch. 1 - A quality control department is testing 25...Ch. 1 - Consider the population of ten digits: 0, 1, 2, 3,...Ch. 1 - Consider the population of 41 whole numbers from 0...Ch. 1 - Use random numbers to simulate rolling a six-sided...Ch. 1 - Prob. 6TCh. 1 - Use random numbers to simulate tossing a coin 100...Ch. 1 - You tossed a coin 100 times and got 77 heads and...Ch. 1 - A political analyst would like to survey a sample...
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