ALEKS 360 ESSENT. STAT ACCESS CARD
2nd Edition
ISBN: 9781266836428
Author: Navidi
Publisher: MCG
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Chapter 1.1, Problem 2CYU
To determine
Explain whether the collected sample is a simple random sample.
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13
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41
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173
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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.
Chapter 1 Solutions
ALEKS 360 ESSENT. STAT ACCESS CARD
Ch. 1.1 - 1. A pollster wants to estimate the proportion of...Ch. 1.1 - Prob. 2CYUCh. 1.1 - 3. A radio talk-show host invites listeners to...Ch. 1.1 - 4. Every 10 years, the U.S. Census Bureau attempts...Ch. 1.1 - 5. A public health researcher is designing a study...Ch. 1.1 - 6. A college basketball team held a promotion at...Ch. 1.1 - Prob. 7ECh. 1.1 - In Exercises 7–12, fill in each blank with the...Ch. 1.1 - In Exercises 7–12, fill in each blank with the...Ch. 1.1 - In Exercises 7–12, fill in each blank with the...
Ch. 1.1 - In Exercises 7–12, fill in each blank with the...Ch. 1.1 - In Exercises 7–12, fill in each blank with the...Ch. 1.1 - In Exercises 13–16, determine whether the...Ch. 1.1 - In Exercises 13–16, determine whether the...Ch. 1.1 - In Exercises 13–16, determine whether the...Ch. 1.1 - In Exercises 13–16, determine whether the...Ch. 1.1 - Prob. 17ECh. 1.1 - In Exercises 17–20, determine whether the number...Ch. 1.1 - Prob. 19ECh. 1.1 - In Exercises 17–20, determine whether the number...Ch. 1.1 - Prob. 21ECh. 1.1 - Prob. 22ECh. 1.1 - Prob. 23ECh. 1.1 - Prob. 24ECh. 1.1 - Prob. 25ECh. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - In Exercises 25–36, identify the kind of sample...Ch. 1.1 - 39. You’re giving me a headache: A pharmaceutical...Ch. 1.1 - 40. Pay more for recreation? The director of the...Ch. 1.1 - Prob. 41ECh. 1.1 - 42. Quality control: Products come off an assembly...Ch. 1.1 - 43. On-site day care: A large company wants to...Ch. 1.1 - Prob. 44ECh. 1.1 - 45. Draw a sample: Imagine that you are asked to...Ch. 1.1 - Prob. 46ECh. 1.2 - 1. A pollster asks a group of six voters about...Ch. 1.2 - Prob. 2CYUCh. 1.2 - Prob. 3CYUCh. 1.2 - Prob. 4CYUCh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.2 - Prob. 9ECh. 1.2 - Prob. 10ECh. 1.2 - Prob. 11ECh. 1.2 - In Exercises 11–14, determine whether the...Ch. 1.2 - In Exercises 11–14, determine whether the...Ch. 1.2 - In Exercises 11–14, determine whether the...Ch. 1.2 - Prob. 15ECh. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - Prob. 17ECh. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - Prob. 21ECh. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - Prob. 23ECh. 1.2 - In Exercises 15–24, determine whether the data...Ch. 1.2 - Prob. 25ECh. 1.2 - In Exercises 25–32, determine whether the data...Ch. 1.2 - Prob. 27ECh. 1.2 - In Exercises 25–32, determine whether the data...Ch. 1.2 - Prob. 29ECh. 1.2 - Prob. 30ECh. 1.2 - Prob. 31ECh. 1.2 - In Exercises 25–32, determine whether the data...Ch. 1.2 - Prob. 33ECh. 1.2 - In Exercises 33–40, determine whether the data...Ch. 1.2 - Prob. 35ECh. 1.2 - In Exercises 33–40, determine whether the data...Ch. 1.2 - Prob. 37ECh. 1.2 - In Exercises 33–40, determine whether the data...Ch. 1.2 - Prob. 39ECh. 1.2 - In Exercises 33–40, determine whether the data...Ch. 1.2 - Working with the Concepts
41. Ringtones: Following...Ch. 1.2 - 42. More Ringtones: The following table presents...Ch. 1.2 - 43. How’s the economy? A poll conducted by the...Ch. 1.2 - 44. Global warming: A recent Pew poll asked people...Ch. 1.2 - 45. Read any good books lately? According to Time...Ch. 1.2 - 46. Watch your language: According to...Ch. 1.2 - 47. Top ten PC games: Nielsen Media recently...Ch. 1.2 - 48. At the movies: The following table provides...Ch. 1.2 - Prob. 49ECh. 1.3 - 1. To study the effect of air pollution on...Ch. 1.3 - 2. It is known that drinking alcohol increases the...Ch. 1.3 - In a study conducted at the University of Southern...Ch. 1.3 - In a study conducted at the University of...Ch. 1.3 - In Exercises 5–10, fill in each blank with the...Ch. 1.3 - Prob. 6ECh. 1.3 - Prob. 7ECh. 1.3 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10ECh. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - In Exercises 11–16, determine whether the...Ch. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.3 - Prob. 20ECh. 1.3 - Prob. 21ECh. 1.3 - Prob. 22ECh. 1.3 - 23. Taxicabs and crime: A sociologist discovered...Ch. 1.3 - Prob. 24ECh. 1.3 - Prob. 25ECh. 1.3 - Prob. 26ECh. 1.3 - Prob. 27ECh. 1.3 - Prob. 28ECh. 1.3 - Prob. 29ECh. 1.3 - Prob. 30ECh. 1.4 - Exercises 1 and 2 are the Check Your Understanding...Ch. 1.4 - Exercises 1 and 2 are the Check Your Understanding...Ch. 1.4 - Prob. 3ECh. 1.4 - Prob. 4ECh. 1.4 - Prob. 5ECh. 1.4 - Prob. 6ECh. 1.4 - In Exercises 6–8, determine whether the statement...Ch. 1.4 - Prob. 8ECh. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - Prob. 15ECh. 1.4 - In Exercises 9–16, specify the type of bias...Ch. 1.4 - Nuclear power, anyone? In a survey conducted by...Ch. 1.4 - Prob. 18ECh. 1.4 - Prob. 19ECh. 1.4 - Prob. 20ECh. 1.4 - Literary Digest poll: In the 1936 presidential...Ch. 1 - Provide an example of a qualitative variable and...Ch. 1 - Is the name of your favorite author a qualitative...Ch. 1 - True or false: Nominal variables do not have a...Ch. 1 - Prob. 4CQCh. 1 - Prob. 5CQCh. 1 - Prob. 6CQCh. 1 - Prob. 7CQCh. 1 - Prob. 8CQCh. 1 - True or false: An experiment where neither the...Ch. 1 - Prob. 10CQCh. 1 - Prob. 11CQCh. 1 - Prob. 12CQCh. 1 - Prob. 13CQCh. 1 - Prob. 14CQCh. 1 - Prob. 15CQCh. 1 - Prob. 1RECh. 1 - Prob. 2RECh. 1 - Discrete or continuous? Is the area of a college...Ch. 1 - Prob. 4RECh. 1 - In Exercises 5–8, identify the kind of sample that...Ch. 1 - In Exercises 5–8, identify the kind of sample that...Ch. 1 - Prob. 7RECh. 1 - In Exercises 5–8, identify the kind of sample that...Ch. 1 - Prob. 9RECh. 1 - Prob. 10RECh. 1 - Prob. 11RECh. 1 - Prob. 12RECh. 1 - In Exercises 13–15, explain why the results of the...Ch. 1 - In Exercises 13–15, explain why the results of the...Ch. 1 - In Exercises 13–15, explain why the results of the...Ch. 1 - Prob. 1WAICh. 1 - Prob. 2WAICh. 1 - Describe circumstances under which each of the...Ch. 1 - Prob. 4WAICh. 1 - Prob. 5WAICh. 1 - Prob. 6WAICh. 1 - Prob. 7WAICh. 1 - Prob. 9WAICh. 1 - Prob. 1CSCh. 1 - Prob. 2CSCh. 1 - Prob. 3CSCh. 1 - Prob. 4CSCh. 1 - Prob. 5CSCh. 1 - Prob. 6CSCh. 1 - Prob. 7CSCh. 1 - Prob. 8CSCh. 1 - Prob. 9CSCh. 1 - Prob. 10CSCh. 1 - Prob. 11CSCh. 1 - Air pollution is a serious problem in many places....
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