Stats: Data And Models Plus Mylab Statistics With Pearson Etext -- Access Card Package (5th Edition)
5th Edition
ISBN: 9780135256213
Author: Richard D. De Veaux, Paul F. Velleman, David E. Bock
Publisher: PEARSON
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Chapter 11, Problem 40E
To determine
Explain the reason for blocking the factor weight level in the given experiment.
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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.
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.
From a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean?
Question content area bottom
Part 1
A
9090%
confidence interval for the population mean is
left bracket nothing comma nothing right bracketenter your response here,enter your response here.
(Use ascending order. Round to two decimal places as needed.)
Chapter 11 Solutions
Stats: Data And Models Plus Mylab Statistics With Pearson Etext -- Access Card Package (5th Edition)
Ch. 11.3 - 1. At one time, a method called “gastric freezing”...Ch. 11.4 - Prob. 2JCCh. 11 - Prob. 1ECh. 11 - 2. E-commerce A business student conjectures that...Ch. 11 - 3. Tips A pizza delivery driver, always trying to...Ch. 11 - 4. Tomatoes You want to compare the tastiness and...Ch. 11 - 5. Tips II For the experiment described in...Ch. 11 - 6. Tomatoes II For the experiment described in...Ch. 11 - 7. Tips again For the experiment of Exercise 3,...Ch. 11 - 8. Tomatoes again For the experiment of Exercise...
Ch. 11 - 9. More tips Is the experiment of Exercise 3...Ch. 11 - 10. More tomatoes If the tomato taster doesn’t...Ch. 11 - 11. Block that tip The driver of Exercise 3 wants...Ch. 11 - 12. Blocking tomatoes To obtain enough plants for...Ch. 11 - 13. Confounded tips For the experiment of Exercise...Ch. 11 - 14. Tomatoes finis What factors might confound the...Ch. 11 - 15. Standardized test scores For his statistics...Ch. 11 - 16. Heart attacks and height Researchers who...Ch. 11 - 17. MS and vitamin D Multiple sclerosis (MS) is an...Ch. 11 - 18. Super Bowl commercials When spending large...Ch. 11 - Prob. 19ECh. 11 - 20. Honesty Coffee stations in offices often just...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 21–34. What’s the design? Read each brief report...Ch. 11 - 35. Omega-3 Exercise 21 describes an experiment...Ch. 11 - 36. Insomnia Exercise 24 describes an experiment...Ch. 11 - 37. Omega-3, revisited Exercises 21 and 35...Ch. 11 - 38. Insomnia, again Exercises 24 and 36 describe...Ch. 11 - 39. Omega-3, finis Exercises 21, 35, and 37...Ch. 11 - 40. Insomnia, at last Exercises 24, 36, and 38...Ch. 11 - 41. Injuries Exercise 33 describes an experiment...Ch. 11 - 42. Tomatoes II Describe a strategy to randomly...Ch. 11 - 43. Shoes A running-shoe manufacturer wants to...Ch. 11 - 44. Swimsuits A swimsuit manufacturer wants to...Ch. 11 - 45. Hamstrings Exercise 33 discussed an experiment...Ch. 11 - 46. Diet and blood pressure An experiment showed...Ch. 11 - Prob. 47ECh. 11 - 48. Contrast baths Contrast bath treatments use...Ch. 11 - 49. Wine A Danish study published in the Archives...Ch. 11 - 50. Swimming Recently, a group of adults who swim...Ch. 11 - 51. Dowsing Before drilling for water, many rural...Ch. 11 - 52. Healing A medical researcher suspects that...Ch. 11 - 53. Reading Some schools teach reading using...Ch. 11 - 54. Gas mileage Do cars get better gas mileage...Ch. 11 - 55. Weekend deaths A study published in the New...Ch. 11 - 56. Shingles A research doctor has discovered a...Ch. 11 - 57. Beetles Hoping to learn how to control crop...Ch. 11 - 58. SAT prep Can special study courses actually...Ch. 11 - 59. Safety switch An industrial machine requires...Ch. 11 - 60. Washing clothes A consumer group wants to test...Ch. 11 - 61. Skydiving, anyone? A humor piece published in...
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