
College Mathematics for Trades and Technologies (10th Edition) (What's New in Trade Math)
10th Edition
ISBN: 9780134690339
Author: Cheryl Cleaves, Margie Hobbs
Publisher: PEARSON
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Question
Chapter 1.2, Problem 45E
To determine
To explain: The statement “The exponent of a power of 10 mean when we are multiplying.”
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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 1 Solutions
College Mathematics for Trades and Technologies (10th Edition) (What's New in Trade Math)
Ch. 1.1 - Perform the indicated operations.
1 − 0.03
Ch. 1.1 - Perform the indicated operations.
0.2(0.03)
Ch. 1.1 - Perform the indicated operations.
1.5 ÷ 0.3
Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - Write two inequalities to compare each pair of...Ch. 1.1 - A house that sold for 183.500 four years ago has...
Ch. 1.1 - Touliatas Nursery sold 786 flats of annual bedding...Ch. 1.1 - The Orlando Renaissance Resort sold 758 rooms for...Ch. 1.1 - The first day a spam filter was installed at...Ch. 1.1 - Write the fractions as decimal numbers. See...Ch. 1.1 - Write the fractions as decimal numbers. See...Ch. 1.1 - Prob. 13ECh. 1.1 - Write the fractions as decimal numbers. See...Ch. 1.1 - Write the fractions as decimal numbers. See...Ch. 1.1 - Write the fractions as decimal numbers. See...Ch. 1.1 - Compare the number pairs and identify the larger...Ch. 1.1 - Prob. 18ECh. 1.1 - Prob. 19ECh. 1.1 - Two micrometer readings are recorded as 0.837 in....Ch. 1.1 - A micrometer reading for a part is 3.85 in. The...Ch. 1.1 - A washer has an inside diameter of 0.33 in. Will...Ch. 1.1 - Prob. 23ECh. 1.1 - Prob. 24ECh. 1.1 - A nurse recorded the weights of two patients as...Ch. 1.1 - Arrange in order from smallest to largest. See...Ch. 1.1 - Arrange in order from smallest to largest. See...Ch. 1.1 - Prob. 28ECh. 1.1 - To change centimeters to inches, multiply by...Ch. 1.1 - Give a reasonable approximate number for the...Ch. 1.1 - Prob. 31ECh. 1.1 - Prob. 32ECh. 1.1 - Prob. 33ECh. 1.1 - Round to the place value indicated. See Example 5....Ch. 1.1 - Round to the place value indicated. See Example 5....Ch. 1.1 - Prob. 36ECh. 1.1 - Prob. 37ECh. 1.1 - Prob. 38ECh. 1.1 - To the nearest tenth, what is the current of a...Ch. 1.1 - If round steak costs 2.78 per pound, what is the...Ch. 1.1 - Prob. 41ECh. 1.1 - Prob. 42ECh. 1.1 - Write in columns and add. See Example 7. 6,017 +...Ch. 1.1 - Prob. 44ECh. 1.1 - Prob. 45ECh. 1.1 - Write in columns and add. 12.8 + 13.52 + 7.86Ch. 1.1 - Prob. 47ECh. 1.1 - Prob. 48ECh. 1.1 - Prob. 49ECh. 1.1 - A part-time hourly worker earned 25.97 on Monday,...Ch. 1.1 - Prob. 51ECh. 1.1 - Prob. 52ECh. 1.1 - Prob. 53ECh. 1.1 - Prob. 54ECh. 1.1 - Estimate the sum for exercises 54–55 by rounding...Ch. 1.1 - Estimate the sum for exercises 54–55 by rounding...Ch. 1.1 - Prob. 57ECh. 1.1 - Prob. 58ECh. 1.1 - Palmer Associates provided the following prices...Ch. 1.1 - Prob. 60ECh. 1.1 - Prob. 61ECh. 1.1 - Prob. 62ECh. 1.1 - Prob. 63ECh. 1.1 - Prob. 64ECh. 1.1 - Prob. 65ECh. 1.1 - Prob. 66ECh. 1.1 - Prob. 67ECh. 1.1 - Prob. 68ECh. 1.1 - Prob. 69ECh. 1.1 - Prob. 70ECh. 1.1 - Prob. 71ECh. 1.1 - Prob. 72ECh. 1.1 - Subtract.
Subtract 13.5 from 21.
Ch. 1.1 - Prob. 74ECh. 1.1 - Subtract.
Find the difference between 42 and...Ch. 1.1 - According to a blueprint, the length of an object...Ch. 1.1 - Prob. 77ECh. 1.1 - Prob. 78ECh. 1.1 - Prob. 79ECh. 1.1 - Prob. 80ECh. 1.1 - Prob. 81ECh. 1.1 - Prob. 82ECh. 1.1 - Prob. 83ECh. 1.1 - Prob. 84ECh. 1.1 - Prob. 85ECh. 1.1 - Prob. 86ECh. 1.1 - Prob. 87ECh. 1.1 - Prob. 88ECh. 1.1 - Prob. 89ECh. 1.1 - Prob. 90ECh. 1.1 - Prob. 91ECh. 1.1 - Prob. 92ECh. 1.1 - Prob. 93ECh. 1.1 - Prob. 94ECh. 1.1 - Each officer in the Public Safety office wrote, on...Ch. 1.1 - Prob. 96ECh. 1.1 - Prob. 97ECh. 1.1 - Multiply the following.
Ch. 1.1 - Multiply the following.
Ch. 1.1 - Prob. 100ECh. 1.1 - Prob. 101ECh. 1.1 - Prob. 102ECh. 1.1 - Prob. 103ECh. 1.1 - Prob. 104ECh. 1.1 - Prob. 105ECh. 1.1 - Prob. 106ECh. 1.1 - Prob. 107ECh. 1.1 - BUS Premier Yard Service treats a lawn that is...Ch. 1.1 - Prob. 109ECh. 1.1 - Prob. 110ECh. 1.1 - Prob. 111ECh. 1.1 - Prob. 112ECh. 1.1 - Prob. 113ECh. 1.1 - Prob. 114ECh. 1.1 - Prob. 115ECh. 1.1 - Divide.
5.12 ÷ 4
Ch. 1.1 - Prob. 117ECh. 1.1 - Prob. 118ECh. 1.1 - Prob. 119ECh. 1.1 - Prob. 120ECh. 1.1 - Divide.
Ch. 1.1 - Prob. 122ECh. 1.1 - Prob. 123ECh. 1.1 - Prob. 124ECh. 1.1 - Prob. 125ECh. 1.1 - Prob. 126ECh. 1.1 - Prob. 127ECh. 1.1 - Prob. 128ECh. 1.1 - Prob. 129ECh. 1.1 - Prob. 130ECh. 1.1 - Prob. 131ECh. 1.1 - Prob. 132ECh. 1.1 - If 12 electrolytic capacitors cost $23.75, find...Ch. 1.1 - Prob. 134ECh. 1.1 - Prob. 135ECh. 1.1 - Prob. 136ECh. 1.1 - Prob. 137ECh. 1.1 - Prob. 138ECh. 1.1 - Find the average, then round to the same place...Ch. 1.2 - Write 23 in standard notation.
Ch. 1.2 - Find
Ch. 1.2 - Write 100 as a power of 10.
Ch. 1.2 - Prob. 1ECh. 1.2 - Prob. 2ECh. 1.2 - Prob. 3ECh. 1.2 - Prob. 4ECh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.2 - Prob. 9ECh. 1.2 - Prob. 10ECh. 1.2 - Prob. 11ECh. 1.2 - Prob. 12ECh. 1.2 - Prob. 13ECh. 1.2 - Prob. 14ECh. 1.2 - Prob. 15ECh. 1.2 - Prob. 16ECh. 1.2 - Prob. 17ECh. 1.2 - Prob. 18ECh. 1.2 - Prob. 19ECh. 1.2 - Prob. 20ECh. 1.2 - Prob. 21ECh. 1.2 - Prob. 22ECh. 1.2 - Prob. 23ECh. 1.2 - Prob. 24ECh. 1.2 - Prob. 25ECh. 1.2 - Prob. 26ECh. 1.2 - Prob. 27ECh. 1.2 - Prob. 28ECh. 1.2 - Prob. 29ECh. 1.2 - Prob. 30ECh. 1.2 - Prob. 31ECh. 1.2 - Prob. 32ECh. 1.2 - Prob. 33ECh. 1.2 - Prob. 34ECh. 1.2 - Prob. 35ECh. 1.2 - Prob. 36ECh. 1.2 - Prob. 37ECh. 1.2 - Prob. 38ECh. 1.2 - Prob. 39ECh. 1.2 - Prob. 40ECh. 1.2 - Prob. 41ECh. 1.2 - Prob. 42ECh. 1.2 - Prob. 43ECh. 1.2 - Prob. 44ECh. 1.2 - Prob. 45ECh. 1.2 - Prob. 46ECh. 1.2 - Prob. 47ECh. 1.2 - Prob. 48ECh. 1.2 - Prob. 49ECh. 1.2 - Prob. 50ECh. 1.2 - Prob. 51ECh. 1.2 - Prob. 52ECh. 1.2 - Prob. 53ECh. 1.2 - Prob. 54ECh. 1.2 - Prob. 55ECh. 1.2 - Prob. 56ECh. 1.2 - Prob. 57ECh. 1.2 - Prob. 58ECh. 1.3 - Prob. 1LCCh. 1.3 - Prob. 2LCCh. 1.3 - Prob. 1ECh. 1.3 - Prob. 2ECh. 1.3 - Prob. 3ECh. 1.3 - Prob. 4ECh. 1.3 - Prob. 5ECh. 1.3 - Prob. 6ECh. 1.3 - Prob. 7ECh. 1.3 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10ECh. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.3 - Prob. 20ECh. 1.3 - Prob. 21ECh. 1.3 - Prob. 22ECh. 1.3 - Prob. 23ECh. 1.3 - Prob. 24ECh. 1.3 - Prob. 25ECh. 1.3 - Prob. 26ECh. 1.3 - Prob. 27ECh. 1.3 - Prob. 28ECh. 1.3 - Prob. 29ECh. 1.3 - Prob. 30ECh. 1.3 - Prob. 31ECh. 1.3 - Prob. 32ECh. 1.3 - Prob. 33ECh. 1.3 - Prob. 34ECh. 1.3 - Prob. 35ECh. 1.3 - Prob. 36ECh. 1.3 - Prob. 37ECh. 1.3 - Prob. 38ECh. 1.3 - Prob. 39ECh. 1.3 - Prob. 40ECh. 1.3 - Prob. 41ECh. 1.3 - Prob. 42ECh. 1.3 - Prob. 43ECh. 1.3 - Prob. 44ECh. 1.3 - Prob. 45ECh. 1.3 - Prob. 46ECh. 1.3 - Prob. 47ECh. 1.3 - Prob. 48ECh. 1.3 - Prob. 49ECh. 1.3 - Prob. 50ECh. 1.3 - Prob. 51ECh. 1.3 - Prob. 52ECh. 1.3 - Prob. 53ECh. 1.3 - Prob. 54ECh. 1.3 - Prob. 55ECh. 1.3 - Prob. 56ECh. 1.3 - Prob. 57ECh. 1.3 - Prob. 58ECh. 1.3 - Prob. 59ECh. 1.3 - Prob. 60ECh. 1.3 - Prob. 61ECh. 1.3 - Prob. 62ECh. 1.3 - Prob. 63ECh. 1.3 - Prob. 64ECh. 1.3 - Prob. 65ECh. 1.3 - Prob. 66ECh. 1.3 - Prob. 67ECh. 1.3 - Prob. 68ECh. 1.3 - Prob. 69ECh. 1.3 - Prob. 70ECh. 1.3 - BUS If you have 348 packages of Halloween candy to...Ch. 1 - Prob. 1RECh. 1 - Prob. 2RECh. 1 - Write as decimal numbers.
(a)
(b)
(c)
Ch. 1 - Which of these decimal numbers is smaller: 0.83 or...Ch. 1 - Which of these decimal numbers is larger: 4.783 or...Ch. 1 - Two measurements of an object are recorded. If the...Ch. 1 - Write these decimal numbers in order of size from...Ch. 1 - Two parts are machined from the same stock. They...Ch. 1 - The decimal equivalent of is 0.875. The decimal...Ch. 1 - The population of Canada in 2017 was 36,469,872....Ch. 1 - Round to the indicated place.
Nearest hundred:...Ch. 1 - Round to the indicated place.
Nearest ten:...Ch. 1 - Round $83.48 to the nearest dollar.
Ch. 1 - Round $0.096 to the nearest cent.
Ch. 1 - Add.
8 + 5 + 3 + 6 + 2 + 4
7 + 4 + 3 + 2 + 5 + 4
Ch. 1 - Add.
6.2 + 32.7 + 46.82 + 0.29 + 4.237
86.3 +...Ch. 1 - An air conditioner uses 10.4 kW (kilowatts), a...Ch. 1 - A do-it-yourself project requires $57.32 for...Ch. 1 - Subtract: 28 − 13 − 5.
Ch. 1 - Subtract: 31 − 18 − 9.
Ch. 1 - Subtract.
(a) 21.34 − 16.73
(b) 15.934 −...Ch. 1 - Estimate by rounding to hundreds, then find the...Ch. 1 - For a moving sale, a family sold a sofa for $75...Ch. 1 - Subtract: 8 − 3.78.
Ch. 1 - Subtract: 143 − 78.2.
Ch. 1 - Prob. 26RECh. 1 - Find the length of A if D = 4.237 in., B = 1.861...Ch. 1 - Prob. 28RECh. 1 - Prob. 29RECh. 1 - Prob. 30RECh. 1 - Prob. 31RECh. 1 - Prob. 32RECh. 1 - Prob. 33RECh. 1 - Prob. 34RECh. 1 - Prob. 35RECh. 1 - Prob. 36RECh. 1 - Prob. 37RECh. 1 - Prob. 38RECh. 1 - Prob. 39RECh. 1 - Prob. 40RECh. 1 - A worker is offered a job that pays $365 per week....Ch. 1 - Prob. 42RECh. 1 - Prob. 43RECh. 1 - Prob. 44RECh. 1 - Prob. 45RECh. 1 - Prob. 46RECh. 1 - Prob. 47RECh. 1 - Prob. 48RECh. 1 - Prob. 49RECh. 1 - Prob. 50RECh. 1 - Prob. 51RECh. 1 - Prob. 52RECh. 1 - Prob. 53RECh. 1 - Prob. 54RECh. 1 - Prob. 55RECh. 1 - Prob. 56RECh. 1 - Prob. 57RECh. 1 - Prob. 58RECh. 1 - Prob. 59RECh. 1 - Prob. 60RECh. 1 - Prob. 61RECh. 1 - Prob. 62RECh. 1 - Prob. 63RECh. 1 - Prob. 64RECh. 1 - Prob. 65RECh. 1 - Prob. 66RECh. 1 - Prob. 67RECh. 1 - Prob. 68RECh. 1 - Prob. 69RECh. 1 - Prob. 70RECh. 1 - Prob. 71RECh. 1 - Prob. 72RECh. 1 - Prob. 73RECh. 1 - Prob. 74RECh. 1 - Prob. 75RECh. 1 - Prob. 76RECh. 1 - Prob. 77RECh. 1 - Prob. 78RECh. 1 - Prob. 79RECh. 1 - Prob. 80RECh. 1 - Prob. 81RECh. 1 - Prob. 82RECh. 1 - Prob. 83RECh. 1 - Prob. 84RECh. 1 - Prob. 85RECh. 1 - Prob. 86RECh. 1 - Prob. 87RECh. 1 - Prob. 88RECh. 1 - Prob. 89RECh. 1 - Prob. 90RECh. 1 - Prob. 91RECh. 1 - Prob. 92RECh. 1 - Prob. 93RECh. 1 - Prob. 94RECh. 1 - Prob. 95RECh. 1 - Prob. 96RECh. 1 - Prob. 97RECh. 1 - Prob. 98RECh. 1 - Prob. 99RECh. 1 - Prob. 100RECh. 1 - Prob. 101RECh. 1 - Prob. 102RECh. 1 - Prob. 103RECh. 1 - Prob. 104RECh. 1 - Prob. 105RECh. 1 - Prob. 106RECh. 1 - Prob. 107RECh. 1 - Prob. 108RECh. 1 - Prob. 109RECh. 1 - Prob. 110RECh. 1 - Prob. 111RECh. 1 - Prob. 112RECh. 1 - Prob. 113RECh. 1 - Prob. 114RECh. 1 - Prob. 115RECh. 1 - Prob. 116RECh. 1 - Prob. 117RECh. 1 - Prob. 118RECh. 1 - Prob. 119RECh. 1 - Prob. 120RECh. 1 - Prob. 121RECh. 1 - Prob. 122RECh. 1 - Prob. 123RECh. 1 - Prob. 124RECh. 1 - Prob. 125RECh. 1 - Prob. 1CACh. 1 - Prob. 2CACh. 1 - Prob. 3CACh. 1 - Prob. 4CACh. 1 - Prob. 5CACh. 1 - Prob. 6CACh. 1 - Prob. 7CACh. 1 - Find and explain the mistake, then rework each...Ch. 1 - Prob. 9CACh. 1 - Prob. 10CACh. 1 - Prob. 11CACh. 1 - Prob. 12CACh. 1 - Prob. 13CACh. 1 - Prob. 1PTCh. 1 - Prob. 2PTCh. 1 - Prob. 3PTCh. 1 - Prob. 4PTCh. 1 - Prob. 5PTCh. 1 - Prob. 6PTCh. 1 - Prob. 7PTCh. 1 - Prob. 8PTCh. 1 - Prob. 9PTCh. 1 - Prob. 10PTCh. 1 - Prob. 11PTCh. 1 - Prob. 12PTCh. 1 - Prob. 13PTCh. 1 - Prob. 14PTCh. 1 - Prob. 15PTCh. 1 - Prob. 16PTCh. 1 - Prob. 17PTCh. 1 - Prob. 18PTCh. 1 - Prob. 19PTCh. 1 - Prob. 20PTCh. 1 - Prob. 21PTCh. 1 - Prob. 22PTCh. 1 - Prob. 23PTCh. 1 - Prob. 24PTCh. 1 - Prob. 25PTCh. 1 - Prob. 26PTCh. 1 - Prob. 27PTCh. 1 - Prob. 28PTCh. 1 - Prob. 29PTCh. 1 - Prob. 30PT
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