Elementary Statistics ( 3rd International Edition ) Isbn:9781260092561
3rd Edition
ISBN: 9781259969454
Author: William Navidi Prof.; Barry Monk Professor
Publisher: McGraw-Hill Education
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Chapter 11.3, Problem 3E
In Exercises 3 and 4, fill in each blank with the appropriate word or phrase.
If the
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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.
To help consumers in purchasing a laptop computer, Consumer Reports calculates an overall test score for each computer tested based upon rating factors such as ergonomics, portability, performance, display, and battery life. Higher overall scores indicate better test results. The following data show the average retail price and the overall score for ten 13-inch models (Consumer Reports website, October 25, 2012).
Brand & Model
Price ($)
Overall Score
Samsung Ultrabook NP900X3C-A01US
1250
83
Apple MacBook Air MC965LL/A
1300
83
Apple MacBook Air MD231LL/A
1200
82
HP ENVY 13-2050nr Spectre XT
950
79
Sony VAIO SVS13112FXB
800
77
Acer Aspire S5-391-9880 Ultrabook
1200
74
Apple MacBook Pro MD101LL/A
1200
74
Apple MacBook Pro MD313LL/A
1000
73
Dell Inspiron I13Z-6591SLV
700
67
Samsung NP535U3C-A01US
600
63
a. Select a scatter diagram with price as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship…
To the Internal Revenue Service, the reasonableness of total itemized deductions depends on the taxpayer’s adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income ($1000s)
Reasonable Amount ofItemized Deductions ($1000s)
22
9.6
27
9.6
32
10.1
48
11.1
65
13.5
85
17.7
120
25.5
Compute b1 and b0 (to 4 decimals).b1 b0 Complete the estimated regression equation (to 2 decimals). = + x
Predict a reasonable level of total itemized deductions for a taxpayer with an adjusted gross income of $52.5 thousand (to 2 decimals). thousand dollarsWhat is the value, in dollars, of…
Chapter 11 Solutions
Elementary Statistics ( 3rd International Edition ) Isbn:9781260092561
Ch. 11.1 - In Exercises 3 and 4, fill in each blank with the...Ch. 11.1 - Prob. 4ECh. 11.1 - Prob. 5ECh. 11.1 - Prob. 6ECh. 11.1 - A test was made of H0:1=2 versus H1:12. The sample...Ch. 11.1 - A test was made of H0:1=2 versus H1:12. The sample...Ch. 11.1 - More time on the Internet: The General Social...Ch. 11.1 - Low-fat or low-carb? Are low-fat diets or low-carb...Ch. 11.1 - Are you smarter than your older brother? In a...Ch. 11.1 - Recovering from surgery: A new postsurgical...
Ch. 11.1 - Contaminated water: The concentration of benzene...Ch. 11.1 - Exercise: Medical researchers conducted a study to...Ch. 11.1 - Mummys curse: King Tut was an ancient Egyptian...Ch. 11.1 - Baby weights: Following are weights in pounds for...Ch. 11.1 - Empathy: The Interpersonal Reactivity Index is a...Ch. 11.1 - Prob. 18ECh. 11.1 - Prob. 19ECh. 11.1 - Prob. 20ECh. 11.1 - Interpret calculator display: The following TI-84...Ch. 11.1 - Prob. 22ECh. 11.1 - Prob. 23ECh. 11.1 - Prob. 24ECh. 11.1 - Prob. 25ECh. 11.2 - In Exercises 3 and 4, fill in each blank with the...Ch. 11.2 - Prob. 4ECh. 11.2 - Prob. 5ECh. 11.2 - Prob. 6ECh. 11.2 - In a test for the difference between two...Ch. 11.2 - In a test for the difference between two...Ch. 11.2 - Childhood obesity: The National Health and...Ch. 11.2 - Pollution and altitude: In a random sample of 340...Ch. 11.2 - Preventing heart attacks: Medical researchers...Ch. 11.2 - Cholesterol: An article in the Archives of...Ch. 11.2 - Treating circulatory disease: Angioplasty is a...Ch. 11.2 - Hurricane damage: In August and September 2005,...Ch. 11.2 - Prob. 15ECh. 11.2 - Prob. 16ECh. 11.2 - Prob. 17ECh. 11.2 - Interpret calculator display: The following TI-84...Ch. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.3 - In Exercises 3 and 4, fill in each blank with the...Ch. 11.3 - In Exercises 3 and 4, fill in each blank with the...Ch. 11.3 - Prob. 5ECh. 11.3 - Prob. 6ECh. 11.3 - Prob. 7ECh. 11.3 - Prob. 8ECh. 11.3 - Crossover trial: A crossover trial is a type of...Ch. 11.3 - Comparing scales: In an experiment to determine...Ch. 11.3 - Strength of concrete: The compressive strength. in...Ch. 11.3 - Truck pollution: In an experiment to determine the...Ch. 11.3 - Growth spurt: It is generally known that boys grow...Ch. 11.3 - Prob. 14ECh. 11.3 - Prob. 15ECh. 11.3 - Interpret calculator display: The following TI-84...Ch. 11.3 - Interpret computer output: The following MINITAB...Ch. 11.3 - Prob. 18ECh. 11.3 - Prob. 19ECh. 11.4 - In Exercises 5 and 6, fill in each blank with the...Ch. 11.4 - Prob. 6ECh. 11.4 - Prob. 7ECh. 11.4 - Prob. 8ECh. 11.4 - Find the critical value f0.05 for F7,20.Ch. 11.4 - Prob. 10ECh. 11.4 - An F-test with 12 degrees of freedom in the...Ch. 11.4 - Prob. 12ECh. 11.4 - Sugar content: A broth used to manufacture a...Ch. 11.4 - Hockey sticks: The breaking strength of hockey...Ch. 11.4 - Prob. 15ECh. 11.4 - Are you smarter than your older brother? In a...Ch. 11.4 - Prob. 17ECh. 11.5 - In Exercises 3 and 4, fill in each blank with the...Ch. 11.5 - Prob. 4ECh. 11.5 - Prob. 5ECh. 11.5 - Prob. 6ECh. 11.5 - Prob. 7ECh. 11.5 - Prob. 8ECh. 11.5 - Prob. 9ECh. 11.5 - Prob. 10ECh. 11.5 - Prob. 11ECh. 11.5 - Prob. 12ECh. 11.5 - Prob. 13ECh. 11 - Prob. 1CQCh. 11 - Prob. 2CQCh. 11 - Prob. 3CQCh. 11 - Prob. 4CQCh. 11 - Prob. 5CQCh. 11 - Prob. 6CQCh. 11 - Prob. 7CQCh. 11 - Prob. 8CQCh. 11 - Prob. 9CQCh. 11 - Prob. 10CQCh. 11 - Prob. 11CQCh. 11 - Prob. 12CQCh. 11 - Prob. 13CQCh. 11 - Refer to Exercise 12. Can you reject H0 at the...Ch. 11 - Prob. 15CQCh. 11 - Prob. 1RECh. 11 - Prob. 2RECh. 11 - Prob. 3RECh. 11 - Prob. 4RECh. 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. 1WAICh. 11 - Prob. 2WAICh. 11 - Describe the differences between performing a...Ch. 11 - Prob. 4WAICh. 11 - Prob. 5WAICh. 11 - Prob. 1CSCh. 11 - Prob. 2CSCh. 11 - Prob. 3CSCh. 11 - Prob. 4CS
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