
Mathematical Applications for the Management, Life, and Social Sciences
11th Edition
ISBN: 9781305108042
Author: Ronald J. Harshbarger, James J. Reynolds
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 11.2, Problem 1CP
If
Expert Solution & Answer

Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
please show all the work
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
Chapter 11 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
Ch. 11.1 - 1.
Ch. 11.1 - 2. If
Ch. 11.1 - Prob. 3CPCh. 11.1 - 4. Find .
Ch. 11.1 - Prob. 1ECh. 11.1 - Prob. 2ECh. 11.1 - Prob. 3ECh. 11.1 - Prob. 4ECh. 11.1 - Prob. 5ECh. 11.1 - Find the derivatives of the functions in Problems...
Ch. 11.1 - Find the derivatives of the functions in Problems...Ch. 11.1 - Find the derivatives of the functions in Problems...Ch. 11.1 - Find the derivatives of the functions in Problems...Ch. 11.1 - Find the derivatives of the functions in Problems...Ch. 11.1 - 11. Find .
Ch. 11.1 - Prob. 12ECh. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - In each of Problems 13-18, find the derivative of...Ch. 11.1 - 19. Find .
Ch. 11.1 - Prob. 20ECh. 11.1 - Prob. 21ECh. 11.1 - Prob. 22ECh. 11.1 - Prob. 23ECh. 11.1 - 24. Find
Ch. 11.1 - In Problems 25-38, find y'.
Ch. 11.1 - In Problems 25-38, find y'.
26.
Ch. 11.1 - In Problems 25-38, find y'.
27.
Ch. 11.1 - Prob. 28ECh. 11.1 - In Problems 25-38, find y'.
29.
Ch. 11.1 - Prob. 30ECh. 11.1 - In Problems 25-38, find y'.
31.
Ch. 11.1 - Prob. 32ECh. 11.1 - In Problems 25-38, find y'.
33.
Ch. 11.1 - Prob. 34ECh. 11.1 - Prob. 35ECh. 11.1 - Prob. 36ECh. 11.1 - Prob. 37ECh. 11.1 - Prob. 38ECh. 11.1 - Prob. 39ECh. 11.1 - Prob. 40ECh. 11.1 - Prob. 41ECh. 11.1 - Prob. 42ECh. 11.1 - 43. Marginal cost Suppose that the total cost (in...Ch. 11.1 - 44. Investment If money is invested at the...Ch. 11.1 - 45. Marginal revenue The total revenue, in...Ch. 11.1 - 46. Supply Suppose that the supply of x units of a...Ch. 11.1 - 47. Demand The demand function for a product is...Ch. 11.1 - Prob. 48ECh. 11.1 - Prob. 49ECh. 11.1 - Prob. 50ECh. 11.1 - Prob. 51ECh. 11.1 - 52. Women in the workforce From 1950 and projected...Ch. 11.2 - 1. If , find y’.
Ch. 11.2 - 2. If , find y’.
Ch. 11.2 - Prob. 3CPCh. 11.2 - 4. If the sales of a product are given by , where...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 3ECh. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 9ECh. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 13ECh. 11.2 - Prob. 14ECh. 11.2 - Prob. 15ECh. 11.2 - Prob. 16ECh. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 18ECh. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 27ECh. 11.2 - Prob. 28ECh. 11.2 - Find the derivatives of the functions in Problems...Ch. 11.2 - Prob. 30ECh. 11.2 - Prob. 31ECh. 11.2 - Prob. 32ECh. 11.2 - Prob. 33ECh. 11.2 - Prob. 34ECh. 11.2 - Prob. 35ECh. 11.2 - Prob. 36ECh. 11.2 - Prob. 37ECh. 11.2 - Prob. 38ECh. 11.2 - In Problems 39-42, find any relative maxima and...Ch. 11.2 - Prob. 40ECh. 11.2 - Prob. 41ECh. 11.2 - Prob. 42ECh. 11.2 - 43. Future value If $P is invested for n years at...Ch. 11.2 - 44. Future value The future value that accrues...Ch. 11.2 - 45. Sales decay After the end of an advertising...Ch. 11.2 - Prob. 46ECh. 11.2 - 47. Marginal cost Suppose that the total cost in...Ch. 11.2 - 48. Marginal revenue Suppose that the revenue in...Ch. 11.2 - 49. Drugs in a bloodstream The percent...Ch. 11.2 - 50. Radioactive decay The amount of the...Ch. 11.2 - 51. Pollution Pollution levels in Lake Sagamore...Ch. 11.2 - Prob. 52ECh. 11.2 - Prob. 55ECh. 11.2 - Prob. 56ECh. 11.2 - 58. Blood pressure Medical research has shown...Ch. 11.2 - Prob. 59ECh. 11.2 - Prob. 60ECh. 11.2 - Prob. 61ECh. 11.2 - 62. Carbon dioxide emissions Using U.S. Department...Ch. 11.2 - Prob. 66ECh. 11.3 - Find the following:
(b) (c)
Ch. 11.3 - Prob. 2CPCh. 11.3 - In Problems 1-6, find dy/dx at the given point...Ch. 11.3 - In Problems 1-6, find at the given point without...Ch. 11.3 - In Problems 1-6, find dy/dx at the given point...Ch. 11.3 - In Problems 1-6, find at the given point without...Ch. 11.3 - In Problems 1-6, find at the given point without...Ch. 11.3 - In Problems 1-6, find at the given point without...Ch. 11.3 - Find dy/dx for the functions in Problems 7-10.
7....Ch. 11.3 - Find for the functions in Problems 7-10.
8.
Ch. 11.3 - Find for the functions in Problems 7-10.
9.
Ch. 11.3 - Find for the functions in Problems 7-10.
10.
Ch. 11.3 - 11.
Ch. 11.3 - 12.
Ch. 11.3 - 13.
Ch. 11.3 - Prob. 14ECh. 11.3 - Prob. 15ECh. 11.3 - 16.
Ch. 11.3 - 17.
Ch. 11.3 - 18. If find .
Ch. 11.3 - 19.
Ch. 11.3 - Prob. 20ECh. 11.3 - Prob. 21ECh. 11.3 - Prob. 22ECh. 11.3 - Prob. 23ECh. 11.3 - Prob. 24ECh. 11.3 - Prob. 25ECh. 11.3 - Prob. 26ECh. 11.3 - Prob. 27ECh. 11.3 - Prob. 28ECh. 11.3 - Prob. 29ECh. 11.3 - Prob. 30ECh. 11.3 - Prob. 31ECh. 11.3 - Prob. 32ECh. 11.3 - Prob. 33ECh. 11.3 - 34. If ln find .
Ch. 11.3 - Prob. 35ECh. 11.3 - Prob. 36ECh. 11.3 - 35.
Ch. 11.3 - Prob. 38ECh. 11.3 - 37.
Ch. 11.3 - Prob. 40ECh. 11.3 - Prob. 41ECh. 11.3 - Prob. 42ECh. 11.3 - Prob. 43ECh. 11.3 - Prob. 44ECh. 11.3 - Prob. 45ECh. 11.3 - Prob. 46ECh. 11.3 - Prob. 47ECh. 11.3 - Prob. 48ECh. 11.3 - Prob. 49ECh. 11.3 - Prob. 50ECh. 11.3 - Prob. 51ECh. 11.3 - Prob. 52ECh. 11.3 - Prob. 53ECh. 11.3 - Prob. 54ECh. 11.3 - 55. Advertising and sales Suppose that a company’s...Ch. 11.3 - Prob. 56ECh. 11.3 - 57. Production Suppose that a company can produce...Ch. 11.3 - Prob. 58ECh. 11.3 - 59. Demand If the demand function for q units of a...Ch. 11.3 - Prob. 60ECh. 11.3 - Prob. 61ECh. 11.3 - Prob. 62ECh. 11.3 - Prob. 63ECh. 11.4 - 1. If V represents volume, write a mathematical...Ch. 11.4 - Prob. 2CPCh. 11.4 - 3. True or false: In solving a related-rates...Ch. 11.4 - Prob. 1ECh. 11.4 - In Problems 1-4, find using the given values.
2....Ch. 11.4 - Prob. 3ECh. 11.4 - Prob. 4ECh. 11.4 - Prob. 5ECh. 11.4 - Prob. 6ECh. 11.4 - Prob. 7ECh. 11.4 - Prob. 8ECh. 11.4 - Prob. 9ECh. 11.4 - Prob. 10ECh. 11.4 - Prob. 11ECh. 11.4 - Prob. 12ECh. 11.4 - 13. The radius of a circle is increasing at a rate...Ch. 11.4 - Prob. 14ECh. 11.4 - Prob. 15ECh. 11.4 - Prob. 16ECh. 11.4 - 17. Profit Suppose that the daily profit (in...Ch. 11.4 - 18. Profit Suppose that the monthly revenue and...Ch. 11.4 - Prob. 19ECh. 11.4 - Supply The supply function for a product is given...Ch. 11.4 - Prob. 21ECh. 11.4 - Prob. 22ECh. 11.4 - Tumor growth For Problems 23 and 24, suppose that...Ch. 11.4 - Tumor growth For Problems 23 and 24, suppose that...Ch. 11.4 - 25. Allomelric relationships—fish For many species...Ch. 11.4 - Prob. 26ECh. 11.4 - Prob. 27ECh. 11.4 - Prob. 28ECh. 11.4 - Prob. 29ECh. 11.4 - 30. Water purification Assume that water is being...Ch. 11.4 - Prob. 31ECh. 11.4 - 32. Boat docking Suppose that a boat is being...Ch. 11.4 - 33. Ladder safety A 30-ft ladder is leaning...Ch. 11.4 - 34. Flight A kite is 30 ft high and is moving...Ch. 11.4 - 35. Flight A plane is flying at a constant...Ch. 11.4 - 36. Distance Two boats leave the same port at the...Ch. 11.4 - 37. Distance Two cars are approaching an...Ch. 11.4 - 38. Water depth Water is flowing into a barrel in...Ch. 11.4 - Prob. 39ECh. 11.5 - 1. Write the formula for point elasticity, .
Ch. 11.5 - 2. (a) If , the demand is called _______.
(b) If...Ch. 11.5 - Prob. 3CPCh. 11.5 - Prob. 4CPCh. 11.5 - Prob. 1ECh. 11.5 - Prob. 2ECh. 11.5 - In Problems 1 -8, p is in dollars and q is the...Ch. 11.5 - In Problems 1 -8, p is in dollars and q is the...Ch. 11.5 - In Problems 1 -8, p is in dollars and q is the...Ch. 11.5 - In Problems 1 -8, p is in dollars and q is the...Ch. 11.5 - Prob. 7ECh. 11.5 - In Problems 1 -8, p is in dollars and q is the...Ch. 11.5 - 9. Suppose the demand function for a product is...Ch. 11.5 - 10. Suppose the weekly demand function for a...Ch. 11.5 - In Problems 11 and 12, the demand functions for...Ch. 11.5 - In Problems 11 and 12, the demand functions for...Ch. 11.5 - Prob. 15ECh. 11.5 - Prob. 16ECh. 11.5 - Prob. 17ECh. 11.5 - Prob. 18ECh. 11.5 - In Problems 15-24, p is the price per unit in...Ch. 11.5 - In Problems 15-24, p is the price per unit in...Ch. 11.5 - In Problems 15-24, p is the price per unit in...Ch. 11.5 - Prob. 22ECh. 11.5 - In Problems 15-24, p is the price per unit in...Ch. 11.5 - Prob. 24ECh. 11 - In Problems 1-12, find the derivative of each...Ch. 11 - Prob. 2RECh. 11 - Prob. 3RECh. 11 - In Problems 1-12, find the derivative of each...Ch. 11 - Prob. 5RECh. 11 - Prob. 6RECh. 11 - Prob. 7RECh. 11 - Prob. 8RECh. 11 - Prob. 9RECh. 11 - Prob. 10RECh. 11 - Prob. 11RECh. 11 - Prob. 12RECh. 11 - Prob. 13RECh. 11 - Prob. 14RECh. 11 - Prob. 15RECh. 11 - Prob. 16RECh. 11 - Prob. 17RECh. 11 - Prob. 18RECh. 11 - In Problems 15-20, find the indicated...Ch. 11 - Prob. 20RECh. 11 - Prob. 21RECh. 11 - Prob. 22RECh. 11 - Prob. 23RECh. 11 - Prob. 24RECh. 11 - Prob. 25RECh. 11 - Prob. 26RECh. 11 - Prob. 27RECh. 11 - Prob. 28RECh. 11 - 29. Radioactive decay A breeder reactor converts...Ch. 11 - Prob. 30RECh. 11 - Prob. 31RECh. 11 - Prob. 32RECh. 11 - Prob. 33RECh. 11 - Prob. 34RECh. 11 - Prob. 38RECh. 11 - Prob. 39RECh. 11 - 37. Elasticity Suppose the weekly demand function...Ch. 11 - Prob. 41RECh. 11 - Prob. 35RECh. 11 - Prob. 36RECh. 11 - Prob. 37RECh. 11 - In Problems 1-8, find the derivative of each...Ch. 11 - Prob. 2TCh. 11 - Prob. 3TCh. 11 - Prob. 4TCh. 11 - Prob. 5TCh. 11 - In Problems 1-8, find the derivative of each...Ch. 11 - In Problems 1-8, find the derivative of each...Ch. 11 - In Problems 1-8, find the derivative of each...Ch. 11 - Prob. 9TCh. 11 - Prob. 10TCh. 11 - Prob. 11TCh. 11 - 12. Suppose the weekly revenue and weekly cost...Ch. 11 - Prob. 13TCh. 11 - Prob. 14TCh. 11 - Prob. 15TCh. 11 - Prob. 16TCh. 11 - Prob. 17TCh. 11 - Prob. 19T
Additional Math Textbook Solutions
Find more solutions based on key concepts
Empirical versus Theoretical A Monopoly player claims that the probability of getting a 4 when rolling a six-si...
Introductory Statistics
For each hour of class time, how many hours outside of class are recommended for studying and doing homework?
Elementary Algebra For College Students (10th Edition)
Silvia wants to mix a 40% apple juice drink with pure apple juice to make 2 L of a juice drink that is 80% appl...
Beginning and Intermediate Algebra
Find all solutions of each equation in the interval .
Precalculus: A Unit Circle Approach (3rd Edition)
Find how many SDs above the mean price would be predicted to cost.
Intro Stats, Books a la Carte Edition (5th Edition)
For Problems 23-28, write in simpler form, as in Example 4. logbFG
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- survey of 5050 young professionals found that they spent an average of $20.5620.56 when dining out, with a standard deviation of $11.4111.41. Can you conclude statistically that the population mean is greater than $2323? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is left bracket nothing comma nothing right bracketenter your response here, enter your response here. As $2323 is ▼ of the confidence interval, we ▼ can cannot conclude that the population mean is greater than $2323. (Use ascending order. Round to four decimal places as needed.)arrow_forward1. vector projection. Assume, ER1001 and you know the following: ||||=4, 7=-0.5.7. For each of the following, explicitly compute the value. འབ (a) (b) (c) (d) answer. Explicitly compute ||y7||. Explain your answer. Explicitly compute the cosine similarity of and y. Explain your Explicitly compute (x, y). Explain your answer. Find the projection of onto y and the projection of onto .arrow_forwardA 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.)arrow_forward
- The numbered disks shown are placed in a box and one disk is selected at random. Find the probability of selecting a 4, given that a green disk is selected. Find the probability of selecting a 4, given that a green disk is selected. (Type an integer or a simplified fraction.) green blue green green green blue green bluearrow_forwardPls help ASAParrow_forwardThe table shows the distribution, by age, of a random sample of 3160 moviegoers ages 12-74. If one moviegoer is randomly selected from this population, find the probability, expressed as a simplified fraction, that the moviegoer is not in the 65-74 age range. The probability is (Type an integer or a simplified fraction.) Age Distribution of Moviegoers Ages Number 12-24 1090 25-44 860 45-64 890 65-74 320arrow_forward
- Use the spinner shown. It is equally probable that the pointer will land on any one of the six regions. If the pointer lands on a borderline, spin again. If the pointer is spun twice, find the probability that it will land on yellow and then yellow. Find the probability that the spinner will land on yellow and then yellow. The probability is (Type an integer or a simplified fraction.) Green Red Gray Red Blue Yellow Q ☑arrow_forwardUse the spinner shown to answer the question. Assume that it is equally probable that the pointer will land on any one of the colored regions. If the pointer lands on a borderline, spin again. If the spinner is spun once, find the probability that the pointer lands in a region that is red or green. The probability that the pointer lands in a region that is red or green is (Type an integer or a simplified fraction.) green red green red yellow redarrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
- A survey of 250 young professionals found that two-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 0.72? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is [ ], [ ] As 0.72 is ▼ above the upper limit within the limits below the lower limit of the confidence interval, we ▼ can cannot conclude that the population proportion is less than 0.72. (Use ascending order. Round to four decimal places as needed.)arrow_forward2. Answer the following questions using vectors u and v. --0-0-0 = find the the cosine similarity and the angle between u and v. འརྒྱ (a) (b) find the scalar projection of u onto v. (c) find the projection of u onto v. (d) (e) (f) find the scalar projection of onto u. find the projection of u onto u. find the projection of u onto and the projection of onto . (Hint: find the inner product and verify the orthogonality)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Elementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice UniversityAlgebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
- College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage LearningIntermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill

Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University

Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell


College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning

Intermediate Algebra
Algebra
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Cengage Learning

Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Points, Lines, Planes, Segments, & Rays - Collinear vs Coplanar Points - Geometry; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=dDWjhRfBsKM;License: Standard YouTube License, CC-BY
Naming Points, Lines, and Planes; Author: Florida PASS Program;https://www.youtube.com/watch?v=F-LxiLSSaLg;License: Standard YouTube License, CC-BY