ALEKS 360 ESSENT. STAT ACCESS CARD
2nd Edition
ISBN: 9781266836428
Author: Navidi
Publisher: MCG
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Chapter 11.4, Problem 8E
a.
To determine
Construct the 99% confidence interval for the mean response when
b.
To determine
Construct the 99% prediction interval for the individual response when
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Let X represent the full height of a certain species of tree. Assume that X has a normal probability distribution with mean 203.8 ft and standard deviation 43.8 ft.
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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 11 Solutions
ALEKS 360 ESSENT. STAT ACCESS CARD
Ch. 11.1 - Prob. 1CYUCh. 11.1 - Prob. 2CYUCh. 11.1 - Prob. 3CYUCh. 11.1 - Prob. 4CYUCh. 11.1 - Prob. 5CYUCh. 11.1 - Prob. 6CYUCh. 11.1 - Prob. 7CYUCh. 11.1 - Prob. 8CYUCh. 11.1 - Prob. 9ECh. 11.1 - Prob. 10E
Ch. 11.1 - Prob. 11ECh. 11.1 - Prob. 12ECh. 11.1 - Prob. 13ECh. 11.1 - Prob. 14ECh. 11.1 - Prob. 15ECh. 11.1 - Prob. 16ECh. 11.1 - Prob. 17ECh. 11.1 - Prob. 18ECh. 11.1 - Prob. 19ECh. 11.1 - Prob. 20ECh. 11.1 - Prob. 21ECh. 11.1 - Prob. 22ECh. 11.1 - Prob. 23ECh. 11.1 - Prob. 24ECh. 11.1 - Prob. 25ECh. 11.1 - Prob. 26ECh. 11.1 - Prob. 27ECh. 11.1 - In Exercises 25–30, determine whether the...Ch. 11.1 - Prob. 29ECh. 11.1 - Prob. 30ECh. 11.1 - Prob. 31ECh. 11.1 - Prob. 32ECh. 11.1 - 33. Pass the ball: The NFL Scouting Combine is an...Ch. 11.1 - 34. Carbon footprint: Carbon dioxide (CO2) is...Ch. 11.1 - 35. Foot temperatures: Foot ulcers are a common...Ch. 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 - Prob. 43ECh. 11.2 - 1. The following table presents the percentage of...Ch. 11.2 - 2. At the final exam in a statistics class, the...Ch. 11.2 - 3. For each of the following plots, interpret the...Ch. 11.2 - Prob. 4CYUCh. 11.2 - Prob. 5ECh. 11.2 - In Exercises 5–7, fill in each blank with the...Ch. 11.2 - Prob. 7ECh. 11.2 - Prob. 8ECh. 11.2 - In Exercises 8–12, determine whether the statement...Ch. 11.2 - Prob. 10ECh. 11.2 - Prob. 11ECh. 11.2 - Prob. 12ECh. 11.2 - Prob. 13ECh. 11.2 - Prob. 14ECh. 11.2 - Prob. 15ECh. 11.2 - Prob. 16ECh. 11.2 - Prob. 17ECh. 11.2 - Prob. 18ECh. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.2 - Prob. 22ECh. 11.2 - Prob. 23ECh. 11.2 - Prob. 24ECh. 11.2 - Prob. 25ECh. 11.2 - Prob. 26ECh. 11.2 - 27. Blood pressure: A blood pressure measurement...Ch. 11.2 - Prob. 28ECh. 11.2 - 29. Interpreting technology: The following display...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. 11.3 - Prob. 1CYUCh. 11.3 - Prob. 2CYUCh. 11.3 - Prob. 3CYUCh. 11.3 - Prob. 4CYUCh. 11.3 - Prob. 5CYUCh. 11.3 - Prob. 6CYUCh. 11.3 - Prob. 7ECh. 11.3 - Prob. 8ECh. 11.3 - Prob. 9ECh. 11.3 - Prob. 10ECh. 11.3 - Prob. 11ECh. 11.3 - Prob. 12ECh. 11.3 - Prob. 13ECh. 11.3 - Prob. 14ECh. 11.3 - Prob. 15ECh. 11.3 - Prob. 16ECh. 11.3 - Prob. 17ECh. 11.3 - Prob. 18ECh. 11.3 - Calories and protein: The following table presents...Ch. 11.3 - Prob. 20ECh. 11.3 - Butterfly wings: Do larger butterflies live...Ch. 11.3 - Blood pressure: A blood pressure measurement...Ch. 11.3 - Prob. 23ECh. 11.3 - Prob. 24ECh. 11.3 - Getting bigger: Concrete expands both horizontally...Ch. 11.3 - Prob. 26ECh. 11.3 - Prob. 27ECh. 11.3 - Prob. 28ECh. 11.3 - Prob. 29ECh. 11.3 - Prob. 30ECh. 11.3 - Prob. 31ECh. 11.4 - Prob. 1CYUCh. 11.4 - Prob. 2CYUCh. 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 - Calories and protein: Use the data in Exercise 19...Ch. 11.4 - Prob. 12ECh. 11.4 - Butterfly wings: Use the data in Exercise 21 in...Ch. 11.4 - Prob. 14ECh. 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 - 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 - Prob. 14CQCh. 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 - Interpret technology: The following TI-84 Plus...Ch. 11 - Prob. 15RECh. 11 - Prob. 1WAICh. 11 - Prob. 2WAICh. 11 - Prob. 3WAICh. 11 - Prob. 4WAICh. 11 - Prob. 5WAICh. 11 - Prob. 6WAICh. 11 - Prob. 7WAICh. 11 - Prob. 1CSCh. 11 - Prob. 2CSCh. 11 - Prob. 3CSCh. 11 - Prob. 4CSCh. 11 - Prob. 5CSCh. 11 - Prob. 6CSCh. 11 - Prob. 7CSCh. 11 - Prob. 8CSCh. 11 - Prob. 9CSCh. 11 - Prob. 10CSCh. 11 - Prob. 11CS
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