Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
14th Edition
ISBN: 9780134668574
Author: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen, Christopher J. Stocker
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 11.4, Problem 70E
To determine
To find: The probability that the passengers must wait to receive less than 20 minutes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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.
Please type out answer
Please type out answer
Chapter 11 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
Ch. 11.1 - Evaluate the following, if it converges: 3dx(x1)2.Ch. 11.1 - Prob. 2MPCh. 11.1 - Prob. 3MPCh. 11.1 - Prob. 4MPCh. 11.1 - Prob. 5MPCh. 11.1 - Prob. 6MPCh. 11.1 - Prob. 1EDCh. 11.1 - Prob. 2EDCh. 11.1 - Prob. 1ECh. 11.1 - Prob. 2E
Ch. 11.1 - Prob. 3ECh. 11.1 - Prob. 4ECh. 11.1 - Prob. 5ECh. 11.1 - Prob. 6ECh. 11.1 - Prob. 7ECh. 11.1 - Prob. 8ECh. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - Prob. 13ECh. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - Prob. 18ECh. 11.1 - Prob. 19ECh. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - Prob. 24ECh. 11.1 - Prob. 25ECh. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - In Problems 928, find the value of each improper...Ch. 11.1 - Prob. 28ECh. 11.1 - Prob. 29ECh. 11.1 - In Problems 2934, graph y = f(x) and find the...Ch. 11.1 - Prob. 31ECh. 11.1 - Prob. 32ECh. 11.1 - Prob. 33ECh. 11.1 - Prob. 34ECh. 11.1 - Prob. 35ECh. 11.1 - In Problems 3538, discuss the validity of each...Ch. 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 - Prob. 43ECh. 11.1 - Prob. 44ECh. 11.1 - Prob. 45ECh. 11.1 - Prob. 46ECh. 11.1 - Prob. 47ECh. 11.1 - Prob. 48ECh. 11.1 - Prob. 49ECh. 11.1 - Prob. 50ECh. 11.1 - Prob. 51ECh. 11.1 - Prob. 52ECh. 11.1 - Prob. 53ECh. 11.1 - Prob. 54ECh. 11.1 - Prob. 55ECh. 11.1 - Prob. 56ECh. 11.1 - Prob. 57ECh. 11.1 - Prob. 58ECh. 11.1 - Prob. 59ECh. 11.1 - Prob. 60ECh. 11.1 - Prob. 61ECh. 11.1 - Prob. 62ECh. 11.1 - Prob. 63ECh. 11.1 - Prob. 64ECh. 11.1 - Prob. 65ECh. 11.1 - Prob. 66ECh. 11.1 - Prob. 67ECh. 11.1 - Prob. 68ECh. 11.1 - Prob. 69ECh. 11.1 - Prob. 70ECh. 11.1 - Prob. 71ECh. 11.1 - Prob. 72ECh. 11.2 - Let f(x)={6x6x2if0x10otherwise Graph f and verify...Ch. 11.2 - Prob. 2MPCh. 11.2 - Prob. 3MPCh. 11.2 - Prob. 4MPCh. 11.2 - Repeat Example 5 if the pharmacist wants the...Ch. 11.2 - For each of the following experiments, determine...Ch. 11.2 - Prob. 2EDCh. 11.2 - Prob. 1ECh. 11.2 - Prob. 2ECh. 11.2 - Prob. 3ECh. 11.2 - Prob. 4ECh. 11.2 - Prob. 5ECh. 11.2 - Prob. 6ECh. 11.2 - Prob. 7ECh. 11.2 - Prob. 8ECh. 11.2 - Prob. 9ECh. 11.2 - In Problems 9 and 10, graph f, and show that f...Ch. 11.2 - Prob. 11ECh. 11.2 - Prob. 12ECh. 11.2 - Prob. 13ECh. 11.2 - Prob. 14ECh. 11.2 - Use the function in Problem 9 to find the...Ch. 11.2 - Use the function in Problem 10 to find the...Ch. 11.2 - Use the function in Problem 9 to find the...Ch. 11.2 - Use the function in Problem 10 to find the...Ch. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.2 - Prob. 22ECh. 11.2 - Prob. 23ECh. 11.2 - Use the cumulative distribution function from...Ch. 11.2 - In Problems 25 and 26, graph f, and show that f...Ch. 11.2 - In Problems 25 and 26, graph f, and show that f...Ch. 11.2 - Prob. 27ECh. 11.2 - Use the function in Problem 26 to find the...Ch. 11.2 - Prob. 29ECh. 11.2 - Prob. 30ECh. 11.2 - Prob. 31ECh. 11.2 - Prob. 32ECh. 11.2 - Prob. 33ECh. 11.2 - In Problems 3336, find the associated cumulative...Ch. 11.2 - Prob. 35ECh. 11.2 - Prob. 36ECh. 11.2 - Prob. 37ECh. 11.2 - Prob. 38ECh. 11.2 - Prob. 39ECh. 11.2 - Prob. 40ECh. 11.2 - Prob. 41ECh. 11.2 - Prob. 42ECh. 11.2 - Prob. 43ECh. 11.2 - Prob. 44ECh. 11.2 - Prob. 45ECh. 11.2 - Prob. 46ECh. 11.2 - Prob. 47ECh. 11.2 - Prob. 48ECh. 11.2 - Prob. 49ECh. 11.2 - Prob. 50ECh. 11.2 - Prob. 51ECh. 11.2 - Prob. 52ECh. 11.2 - Prob. 53ECh. 11.2 - Prob. 54ECh. 11.2 - In Problems 53 and 58, find the associated...Ch. 11.2 - In Problems 53 and 58, find the associated...Ch. 11.2 - Prob. 57ECh. 11.2 - In Problems 53 and 58, find the associated...Ch. 11.2 - Demand. The weekly demand for hamburger (in...Ch. 11.2 - Prob. 60ECh. 11.2 - Prob. 61ECh. 11.2 - Prob. 62ECh. 11.2 - Prob. 63ECh. 11.2 - Shelf life. Repeat Problem 63 if...Ch. 11.2 - Prob. 65ECh. 11.2 - Prob. 66ECh. 11.3 - Find the expected value (mean), variance, and...Ch. 11.3 - Repeat Example 2 if the probability density...Ch. 11.3 - Prob. 3MPCh. 11.3 - Prob. 4MPCh. 11.3 - Prob. 5MPCh. 11.3 - Prob. 6MPCh. 11.3 - Prob. 1EDCh. 11.3 - Prob. 2EDCh. 11.3 - In Problems 16, find the mean, variance, and...Ch. 11.3 - In Problems 16, find the mean, variance, and...Ch. 11.3 - In Problems 16, find the mean, variance, and...Ch. 11.3 - Prob. 4ECh. 11.3 - Prob. 5ECh. 11.3 - Prob. 6ECh. 11.3 - In Problems 712, find the median....Ch. 11.3 - Prob. 8ECh. 11.3 - Prob. 9ECh. 11.3 - In Problems 712, find the median....Ch. 11.3 - In Problems 712, find the median....Ch. 11.3 - Prob. 12ECh. 11.3 - Prob. 13ECh. 11.3 - Prob. 14ECh. 11.3 - Prob. 15ECh. 11.3 - Prob. 16ECh. 11.3 - In Problems 1720, find the mean, variance, and...Ch. 11.3 - Prob. 18ECh. 11.3 - In Problems 1720, find the mean, variance, and...Ch. 11.3 - In Problems 1720, find the mean, variance, and...Ch. 11.3 - In Problems 21 and 22, use a graphing calculator...Ch. 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 - Prob. 34ECh. 11.3 - Prob. 35ECh. 11.3 - Prob. 36ECh. 11.3 - Prob. 37ECh. 11.3 - Prob. 38ECh. 11.3 - Prob. 39ECh. 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 - Electricity consumption. The daily consumption of...Ch. 11.3 - Prob. 47ECh. 11.3 - Product life. The life expectancy (in years) of an...Ch. 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 - Learning. The number of hours it takes a...Ch. 11.3 - Prob. 56ECh. 11.4 - Use the probability density function given in...Ch. 11.4 - Prob. 2MPCh. 11.4 - Prob. 3MPCh. 11.4 - In Example 4, what percentage of the lightbulbs...Ch. 11.4 - Prob. 5MPCh. 11.4 - Prob. 2EDCh. 11.4 - Prob. 1ECh. 11.4 - Prob. 2ECh. 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 - In Problems 914, use Table 2 in Appendix C to find...Ch. 11.4 - Prob. 12ECh. 11.4 - Prob. 13ECh. 11.4 - In Problems 914, use Table 2 in Appendix C to find...Ch. 11.4 - Prob. 15ECh. 11.4 - Prob. 16ECh. 11.4 - Prob. 17ECh. 11.4 - Prob. 18ECh. 11.4 - Prob. 19ECh. 11.4 - Prob. 20ECh. 11.4 - Prob. 21ECh. 11.4 - Prob. 22ECh. 11.4 - Prob. 23ECh. 11.4 - Prob. 24ECh. 11.4 - Prob. 25ECh. 11.4 - Prob. 26ECh. 11.4 - Prob. 27ECh. 11.4 - Prob. 28ECh. 11.4 - Prob. 29ECh. 11.4 - Prob. 30ECh. 11.4 - Prob. 31ECh. 11.4 - Prob. 32ECh. 11.4 - Prob. 33ECh. 11.4 - Prob. 34ECh. 11.4 - Prob. 35ECh. 11.4 - Prob. 36ECh. 11.4 - Prob. 37ECh. 11.4 - Prob. 38ECh. 11.4 - Prob. 39ECh. 11.4 - Prob. 40ECh. 11.4 - Prob. 41ECh. 11.4 - Prob. 42ECh. 11.4 - Prob. 43ECh. 11.4 - Prob. 44ECh. 11.4 - Prob. 45ECh. 11.4 - Prob. 46ECh. 11.4 - Prob. 47ECh. 11.4 - Prob. 48ECh. 11.4 - Prob. 49ECh. 11.4 - Prob. 50ECh. 11.4 - Prob. 51ECh. 11.4 - Prob. 52ECh. 11.4 - Prob. 53ECh. 11.4 - Prob. 54ECh. 11.4 - Prob. 55ECh. 11.4 - Prob. 56ECh. 11.4 - Problems 5558 refer to the normal random variable...Ch. 11.4 - Prob. 58ECh. 11.4 - Prob. 59ECh. 11.4 - Prob. 60ECh. 11.4 - Prob. 61ECh. 11.4 - Prob. 62ECh. 11.4 - Prob. 63ECh. 11.4 - Prob. 64ECh. 11.4 - Prob. 65ECh. 11.4 - Prob. 66ECh. 11.4 - Prob. 67ECh. 11.4 - Prob. 68ECh. 11.4 - Waiting time. The time (in minutes) applicants...Ch. 11.4 - Prob. 70ECh. 11.4 - Communications. The length of time for telephone...Ch. 11.4 - Prob. 72ECh. 11.4 - Prob. 73ECh. 11.4 - Prob. 74ECh. 11.4 - Prob. 75ECh. 11.4 - Prob. 76ECh. 11.4 - Prob. 77ECh. 11.4 - Prob. 78ECh. 11.4 - Prob. 79ECh. 11.4 - Prob. 80ECh. 11.4 - Prob. 81ECh. 11.4 - Prob. 82ECh. 11.4 - Prob. 83ECh. 11.4 - Prob. 84ECh. 11.4 - Prob. 85ECh. 11.4 - Prob. 86ECh. 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. 16RECh. 11 - Prob. 17RECh. 11 - Prob. 18RECh. 11 - Prob. 19RECh. 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 - Prob. 29RECh. 11 - Prob. 30RECh. 11 - Prob. 31RECh. 11 - Prob. 32RECh. 11 - Prob. 33RECh. 11 - Prob. 34RECh. 11 - Prob. 35RECh. 11 - Prob. 36RECh. 11 - Prob. 37RECh. 11 - Prob. 38RECh. 11 - Prob. 39RECh. 11 - Credit applications. The percentage of...Ch. 11 - Prob. 41RECh. 11 - Prob. 42RECh. 11 - Prob. 43RECh. 11 - Medicine. The shelf life (in months) of a certain...Ch. 11 - Life expectancy. The life expectancy (in months)...Ch. 11 - Prob. 46RECh. 11 - Prob. 47RECh. 11 - Prob. 48RE
Knowledge Booster
Similar questions
- Please type out answerarrow_forwardUsing f(x) = log x, what is the x-intercept of g(x) = log (x + 4)? Explain your reasoning. Please type out answerarrow_forwardThe function f(x) = log x is transformed to produce g(x) = log (x) – 3. Identify the type of transformation and describe the change. Please type out answerarrow_forward
- Each graph below is the graph of a system of three linear equations in three unknowns of the form Ax = b. Determine whether each system has a solution and, if it does, the number of free variables. A. O free variables ✓ B. no solution C. no solution D. no solution E. 1 free variable F. 1 free variablearrow_forward+ Find the first five non-zero terms of the Taylor series for f(x) = sin(2x) centered at 4π. + + + ...arrow_forward+ + ... Find the first five non-zero terms of the Taylor series for f(x) centered at x = 4. = 1 x + + +arrow_forward
- 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.arrow_forward7. 11 m 12.7 m 14 m S V=B₁+ B2(h) 9.5 m 16 m h+s 2 na 62-19 = 37 +, M h² = Bu-29arrow_forwardFind the interval and radius of convergence for the given power series. n=0 (− 1)" xn 7" (n² + 2) The series is convergent on the interval: The radius of convergence is R =arrow_forward
- Find the interval and radius of convergence for the given power series. n=1 (x-4)" n( - 8)" The series is convergent on the interval: The radius of convergence is R =arrow_forwardFind the interval and radius of convergence for the given power series. n=0 10"x" 7(n!) The series is convergent on the interval: The radius of convergence is R =arrow_forwardwhat would a of a interscribed angle be with an arc of 93 degrees and inside abgles of 111 and 98arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning