Introductory Statistics (10th Edition)
10th Edition
ISBN: 9780321989178
Author: Neil A. Weiss
Publisher: PEARSON
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Textbook Question
Chapter 1.1, Problem 1E
Define the following terms:
- a. Population
- b. Sample
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Using the accompanying Accounting Professionals data to answer the following questions.
a. Find and interpret a 90% confidence interval for the mean years of service.
b. Find and interpret a 90% confidence interval for the proportion of employees who have a graduate degree.
view the Accounting Professionals data.
Employee Years of Service Graduate Degree?1 26 Y2 8 N3 10 N4 6 N5 23 N6 5 N7 8 Y8 5 N9 26 N10 14 Y11 10 N12 8 Y13 7 Y14 27 N15 16 Y16 17 N17 21 N18 9 Y19 9 N20 9 N
Question content area bottom
Part 1
a. A 90% confidence interval for the mean years of service is
(Use ascending order. Round to two decimal places as needed.)
If, based on a sample size of 900,a political candidate finds that 509people would vote for him in a two-person race, what is the 95%confidence interval for his expected proportion of the vote? Would he be confident of winning based on this poll?
Question content area bottom
Part 1
A
9595%
confidence interval for his expected proportion of the vote is
(Use ascending order. Round to four decimal places as needed.)
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.
Chapter 1 Solutions
Introductory Statistics (10th Edition)
Ch. 1.1 - Define the following terms: a. Population b....Ch. 1.1 - What are the two major types of statistics?...Ch. 1.1 - Identify some methods used in descriptive...Ch. 1.1 - Explain two ways in which descriptive statistics...Ch. 1.1 - Define the following terms: a. Observational study...Ch. 1.1 - Fill in the following blank: Observational studies...Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...
Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...Ch. 1.1 - In Exercises 1.71.12, classify each of the studies...Ch. 1.1 - Thoughts on Evolution. In an article titled Who...Ch. 1.1 - Big-Banks Break-up. A nationwide survey of 1000...Ch. 1.1 - Genocide. The document American Attitudes about...Ch. 1.1 - Vasectomies and Prostate Cancer. Refer to the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - In Exercises 1.171.22, state whether the...Ch. 1.1 - Ballistic Fingerprinting. In an on-line press...Ch. 1.1 - Causes of Death. The National Center for Health...Ch. 1.1 - Medical Testing on Animals. In its Summer 2013...Ch. 1.1 - Lobbying Congress. In the special report, Bitter...Ch. 1.2 - Explain why a census is often not the best way to...Ch. 1.2 - Identify two statistical methods other than a...Ch. 1.2 - In sampling, explain why obtaining a...Ch. 1.2 - Provide a scenario of your own in which a sample...Ch. 1.2 - Regarding probability sampling: a. What is it? b....Ch. 1.2 - Regarding simple random sampling: a. What is...Ch. 1.2 - The inferential procedures discussed in this book...Ch. 1.2 - Identify two methods for obtaining a simple random...Ch. 1.2 - What is the acronym used for simple random...Ch. 1.2 - The members of a population are numbered 15. a....Ch. 1.2 - The members of a population are numbered 14. a....Ch. 1.2 - The members of a population are numbered 190. a....Ch. 1.2 - The members of a population are numbered 150. a....Ch. 1.2 - Memorial Day Poll. In the year 2000, an on-line...Ch. 1.2 - Estimating Median Income. Explain why a sample of...Ch. 1.2 - Oklahoma State Officials. The five top Oklahoma...Ch. 1.2 - Oklahoma State Officials. The five top Oklahoma...Ch. 1.2 - Best-Selling Albums. The Recording Industry...Ch. 1.2 - Best-Selling Albums. Refer to Exercise 1.44. a....Ch. 1.2 - Best-Selling Albums. Refer to Exercise 1.44. a....Ch. 1.2 - Social Networking Websites. From Wikipedia.com, we...Ch. 1.2 - Keno. In the game of keno, 20 balls are selected...Ch. 1.2 - The International 500. Each year, Fortune Magazine...Ch. 1.2 - Prob. 50ECh. 1.2 - Prob. 51ECh. 1.2 - Undercoverage. Oftentimes, an accurate and...Ch. 1.2 - Nonresponse. When responses are not obtained from...Ch. 1.2 - Response bias. When the behavior of the...Ch. 1.3 - In each of Exercises 1.551.58, fill in the...Ch. 1.3 - In each of Exercises 1.551.58, fill in the...Ch. 1.3 - In each of Exercises 1.551.58, fill in the...Ch. 1.3 - In each of Exercises 1.551.58, fill in the...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - The members of a population have been numbered...Ch. 1.3 - Ghost of Speciation Past. In the article, Ghost of...Ch. 1.3 - Number of Farms. The National Agricultural...Ch. 1.3 - John F. Kennedy. In one of his books, Ted...Ch. 1.3 - Litigation Surveys. In the article,...Ch. 1.3 - Immunization of Schoolchildren. In the article,...Ch. 1.3 - University Parking Facilities. During one year, a...Ch. 1.3 - The International 500. In Exercise 1.49 on page...Ch. 1.3 - Keno. In the game of keno, 20 balls are selected...Ch. 1.3 - Sampling Dorm Residents. Students in the...Ch. 1.3 - Best High Schools. In an issue of Newsweek (Vol....Ch. 1.3 - U.S. House of Representatives. There are 435...Ch. 1.3 - Prob. 76ECh. 1.3 - Prob. 77ECh. 1.3 - In simple random sampling, all samples of a given...Ch. 1.3 - In simple random sampling, it is also true that...Ch. 1.3 - In simple random sampling, it is also true that...Ch. 1.4 - In a designed experiment, a. what are the...Ch. 1.4 - State and explain the significance of the three...Ch. 1.4 - Prob. 83ECh. 1.4 - In this section, we discussed two types of...Ch. 1.4 - In a designed experiment, there is one factor with...Ch. 1.4 - In a designed experiment, there is one factor with...Ch. 1.4 - Prob. 87ECh. 1.4 - In a designed experiment, there are two factors,...Ch. 1.4 - In a designed experiment, there are two factors....Ch. 1.4 - Adverse Effects of Prozac. Prozac (fluoxetine...Ch. 1.4 - Treating Heart Failure. In the journal article...Ch. 1.4 - In Exercises 1.921.97, we present descriptions of...Ch. 1.4 - Prob. 93ECh. 1.4 - In Exercises 1.921.97, we present descriptions of...Ch. 1.4 - Prob. 95ECh. 1.4 - In Exercises 1.921.97, we present descriptions of...Ch. 1.4 - In Exercises 1.921.97, we present descriptions of...Ch. 1.4 - Prob. 98ECh. 1.4 - Dental Hygiene: Which Toothbrush? In an experiment...Ch. 1.4 - The Salk Vaccine. In Exercise 1.17 on page 8, we...Ch. 1.4 - In sampling from a population, state which type of...Ch. 1 - Almost any inferential study involves aspects of...Ch. 1 - Regarding observational studies and designed...Ch. 1 - Before planning and conducting a study to obtain...Ch. 1 - Explain the meaning of a. a representative sample....Ch. 1 - Which of the following sampling procedures involve...Ch. 1 - Describe each of the following sampling methods...Ch. 1 - Identify and explain the significance of the three...Ch. 1 - Baseball Scores. From ESPN MLB Scoreboard, we...Ch. 1 - Working Lottery Winners. In a national poll taken...Ch. 1 - British Backpacker Tourists. Research by G. Visser...Ch. 1 - Peanut Allergies. In the article Food Allergy...Ch. 1 - Persistent Poverty and IQ. An article appearing in...Ch. 1 - Wasp Hierarchical Status. In an issue of Discover...Ch. 1 - Incomes of College Students Parents. A researcher...Ch. 1 - On-Time Airlines. From the FlightStats On-time...Ch. 1 - Top North American Athletes. As part of ESPNs...Ch. 1 - QuickVote. TalkBack Live, a production of CNN,...Ch. 1 - Leisure Activities and Dementia. An article...Ch. 1 - Hepatitis B and Pancreatic Cancer. The article...Ch. 1 - Top North American Athletes. Refer to Problem 17....Ch. 1 - Water Quality. In the article Randomized...Ch. 1 - Prob. 23RPCh. 1 - Plant Density and Tomato Yield. In Effects of...Ch. 1 - Child-Proof Bottles. Designing medication...Ch. 1 - Prob. 26RPCh. 1 - Comparing Gas Mileages. An experiment is to be...Ch. 1 - The file named Focus.txt in the Focus Database...Ch. 1 - At the beginning of this chapter, we discussed the...
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