Mathematics: A Practical Odyssey
8th Edition
ISBN: 9781305104174
Author: David B. Johnson, Thomas A. Mowry
Publisher: Cengage Learning
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Chapter 12.0, Problem 1E
In Exercises 1-8, graph the region of the solutions of the given linear inequality.
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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 12 Solutions
Mathematics: A Practical Odyssey
Ch. 12.0 - In Exercises 1-8, graph the region of the...Ch. 12.0 - Prob. 2ECh. 12.0 - Prob. 3ECh. 12.0 - In Exercises 1-8, graph the region of the...Ch. 12.0 - Prob. 5ECh. 12.0 - Prob. 6ECh. 12.0 - In Exercises 1-8, graph the region of the...Ch. 12.0 - Prob. 8ECh. 12.0 - Prob. 9ECh. 12.0 - Prob. 10E
Ch. 12.0 - Prob. 11ECh. 12.0 - Prob. 12ECh. 12.0 - Prob. 13ECh. 12.0 - Prob. 14ECh. 12.0 - Prob. 15ECh. 12.0 - Prob. 16ECh. 12.0 - Prob. 17ECh. 12.0 - Prob. 18ECh. 12.0 - Prob. 19ECh. 12.0 - Prob. 20ECh. 12.0 - Prob. 21ECh. 12.0 - Prob. 22ECh. 12.0 - Prob. 23ECh. 12.0 - Prob. 24ECh. 12.0 - Prob. 25ECh. 12.0 - Prob. 26ECh. 12.0 - Prob. 27ECh. 12.0 - Prob. 28ECh. 12.0 - Prob. 29ECh. 12.0 - Prob. 30ECh. 12.0 - Prob. 31ECh. 12.0 - Prob. 32ECh. 12.0 - Prob. 33ECh. 12.0 - Prob. 34ECh. 12.0 - Prob. 35ECh. 12.0 - Prob. 36ECh. 12.0 - Prob. 37ECh. 12.0 - Prob. 38ECh. 12.0 - Prob. 39ECh. 12.0 - Prob. 40ECh. 12.0 - Prob. 41ECh. 12.0 - Prob. 42ECh. 12.0 - Prob. 43ECh. 12.0 - Prob. 44ECh. 12.0 - Prob. 45ECh. 12.0 - Prob. 46ECh. 12.0 - In Exercises 3749. use a graphing calculator to...Ch. 12.0 - Prob. 48ECh. 12.0 - Prob. 49ECh. 12.1 - In Exercises 1-6, convert the information into a...Ch. 12.1 - Prob. 2ECh. 12.1 - In Exercises 1-6, convert the information into a...Ch. 12.1 - Prob. 4ECh. 12.1 - In Exercises 1-6, convert the information into a...Ch. 12.1 - Prob. 6ECh. 12.1 - In Exercises 7-16, use the method of linear...Ch. 12.1 - In Exercises 7-16, use the method of linear...Ch. 12.1 - In Exercises 7-16, use the method of linear...Ch. 12.1 - In Exercises 7-16, use the method of linear...Ch. 12.1 - Prob. 11ECh. 12.1 - Notel Chips manufactures computer chips. Its two...Ch. 12.1 - Global Air Lines has contracted with a tour group...Ch. 12.1 - Compucraft sells personal computers and printers...Ch. 12.1 - The Appliance Barn has 2,400 cubic feet of storage...Ch. 12.1 - City Electronics Distributors handles two lines of...Ch. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - How much of her available time would be unused if...Ch. 12.1 - Prob. 20ECh. 12.1 - Prob. 21ECh. 12.1 - In Exercises 21-24, the region of possible...Ch. 12.1 - Prob. 23ECh. 12.1 - In Exercises 21-24, the region of possible...Ch. 12.1 - Prob. 25ECh. 12.1 - Is it possible for an unbounded region to have...Ch. 12.1 - Prob. 27ECh. 12.1 - In Example 2, Petes Coffees mixes Colombian beans...Ch. 12.1 - Prob. 29ECh. 12.1 - Prob. 30ECh. 12.1 - Prob. 31ECh. 12.1 - Prob. 32ECh. 12.1 - Prob. 33ECh. 12.1 - Prob. 34ECh. 12.1 - Prob. 35ECh. 12.1 - What was surprising about the awarding of a Nobel...Ch. 12.1 - Prob. 37ECh. 12.1 - Answer the following questions using complete...Ch. 12.1 - Prob. 39ECh. 12.1 - Prob. 40ECh. 12.CR - Prob. 1CRCh. 12.CR - Prob. 2CRCh. 12.CR - Prob. 3CRCh. 12.CR - Prob. 4CRCh. 12.CR - Prob. 5CRCh. 12.CR - Prob. 6CRCh. 12.CR - Prob. 7CRCh. 12.CR - Prob. 8CRCh. 12.CR - Prob. 9CRCh. 12.CR - Prob. 10CRCh. 12.CR - Prob. 11CRCh. 12.CR - Prob. 12CRCh. 12.CR - Prob. 13CRCh. 12.CR - In Exercises 11-17, solve the given linear...Ch. 12.CR - The Mowson Audio Co. makes stereo speaker...Ch. 12.CR - The Stereo Guys store sells two lines of personal...Ch. 12.CR - Prob. 17CRCh. 12.CR - Prob. 18CRCh. 12.CR - Answer the following questions using your own...
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