MATH IN OUR WORLD (LOOSELEAF)-W/ACCESS
3rd Edition
ISBN: 9781259969690
Author: sobecki
Publisher: MCG
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Chapter 12.1, Problem 1E
To determine
To explain: The preference table used to display voting results.
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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.
Answer questions 8.1.13 and 8.2.10 respectively
Chapter 12 Solutions
MATH IN OUR WORLD (LOOSELEAF)-W/ACCESS
Ch. 12.1 - The Student Activities Committee at Camden College...Ch. 12.1 - An election was held for the chairperson of the...Ch. 12.1 - Prob. 3TTOCh. 12.1 - Prob. 4TTOCh. 12.1 - Prob. 1ECh. 12.1 - Prob. 2ECh. 12.1 - Prob. 3ECh. 12.1 - Explain the head-to head comparison criterion.Ch. 12.1 - 5. What is a fairness criterion for an election?
Ch. 12.1 - Prob. 6E
Ch. 12.1 - Prob. 7ECh. 12.1 - Prob. 8ECh. 12.1 - Prob. 9ECh. 12.1 - Prob. 10ECh. 12.1 - Prob. 11ECh. 12.1 - Prob. 12ECh. 12.1 - Prob. 13ECh. 12.1 - Prob. 14ECh. 12.1 - Prob. 15ECh. 12.1 - For Exercises 15–18, rewrite the preference table...Ch. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - Using the election results given in Exercise 9,...Ch. 12.1 - 20. Using the election results given in Exercise...Ch. 12.1 - Prob. 21ECh. 12.1 - Prob. 22ECh. 12.1 - Using the Internet as a resource, look up the...Ch. 12.1 - Suppose that an election has seven candidates, and...Ch. 12.1 - Prob. 25ECh. 12.1 - Prob. 26ECh. 12.1 - Prob. 27ECh. 12.1 - Prob. 28ECh. 12.1 - Prob. 29ECh. 12.1 - Prob. 30ECh. 12.1 - Prob. 31ECh. 12.1 - Prob. 32ECh. 12.2 - Prob. 1TTOCh. 12.2 - Prob. 2TTOCh. 12.2 - Prob. 3TTOCh. 12.2 - If the one voter who listed softball last in the...Ch. 12.2 - Prob. 1ECh. 12.2 - Prob. 2ECh. 12.2 - Prob. 3ECh. 12.2 - Prob. 4ECh. 12.2 - Prob. 5ECh. 12.2 - Can a candidate that gets the least first-place...Ch. 12.2 - A gaming club holds a vote to decide what type of...Ch. 12.2 - The McKees Point Yacht Club Board of Directors...Ch. 12.2 - Prob. 9ECh. 12.2 - A local police union is holding an election for a...Ch. 12.2 - Students at a college were asked to rank three...Ch. 12.2 - Prob. 12ECh. 12.2 - Prob. 13ECh. 12.2 - Prob. 14ECh. 12.2 - Prob. 15ECh. 12.2 - Prob. 16ECh. 12.2 - Prob. 17ECh. 12.2 - Does the election in Exercise 12 violate the...Ch. 12.2 - An English department is voting for a new...Ch. 12.2 - The Association of Self-Employed Working Persons...Ch. 12.2 - Prob. 21ECh. 12.2 - Prob. 22ECh. 12.2 - Suppose that all 4 voters from the last column of...Ch. 12.2 - Suppose that 2 of the 4 voters from the second...Ch. 12.2 - If 2 of the voters from column 1 in Exercise 21...Ch. 12.2 - If the 3 voters in column 4 in Exercise 22 change...Ch. 12.2 - Construct a preference table for an election...Ch. 12.2 - Construct a preference table for an election...Ch. 12.2 - Construct a preference table for an election so...Ch. 12.2 - If the candidates on a preference ballot are...Ch. 12.2 - If the candidates on a preference ballot are...Ch. 12.2 - In an election with four candidates, how many...Ch. 12.2 - Based on your answers to Exercise 32, explain why...Ch. 12.2 - One way to avoid the issue described in Exercises...Ch. 12.2 - Lets talk about a modified Borda count method....Ch. 12.3 - Prob. 1TTOCh. 12.3 - Prob. 2TTOCh. 12.3 - Does the election in Try This One 2 violate the...Ch. 12.3 - Prob. 4TTOCh. 12.3 - Explain how to determine the winner of an election...Ch. 12.3 - Prob. 2ECh. 12.3 - Describe Arrows impossibility theorem. How is it...Ch. 12.3 - Prob. 4ECh. 12.3 - Prob. 5ECh. 12.3 - Which of the five voting methods we studied do you...Ch. 12.3 - If all of the voters in an approval voting...Ch. 12.3 - Fill in the table below, which summarizes our five...Ch. 12.3 - Prob. 9ECh. 12.3 - Prob. 10ECh. 12.3 - Prob. 11ECh. 12.3 - Prob. 12ECh. 12.3 - Prob. 13ECh. 12.3 - Prob. 14ECh. 12.3 - Prob. 15ECh. 12.3 - Prob. 16ECh. 12.3 - The McKees Point Yacht Club Board of Directors...Ch. 12.3 - The students in Dr. Lees math class are asked to...Ch. 12.3 - If Professor Donovan was unable to serve as...Ch. 12.3 - If the travel company from Exercise 14 loses its...Ch. 12.3 - If the West Oak Golf Club is unavailable and the...Ch. 12.3 - If a room for Dr. Lees final exam was not...Ch. 12.3 - A sports committee of students needs to choose a...Ch. 12.3 - Prob. 24ECh. 12.3 - Prob. 25ECh. 12.3 - Prob. 26ECh. 12.3 - Prob. 27ECh. 12.3 - Prob. 28ECh. 12.3 - Prob. 29ECh. 12.3 - Construct a preference table so that one candidate...Ch. 12.3 - Prob. 31ECh. 12.3 - Prob. 32ECh. 12.3 - Prob. 33ECh. 12.3 - Evaluate each voting method we studied if there...Ch. 12.3 - Suppose that in an election for city council,...Ch. 12.3 - Prob. 36ECh. 12.3 - Devise a method for breaking ties when using...Ch. 12.3 - Prob. 38ECh. 12.4 - Prob. 1TTOCh. 12.4 - Prob. 2TTOCh. 12.4 - Prob. 3TTOCh. 12.4 - Prob. 4TTOCh. 12.4 - Prob. 5TTOCh. 12.4 - Assign the 30 seats from Try This One 5 using...Ch. 12.4 - Prob. 7TTOCh. 12.4 - Prob. 8TTOCh. 12.4 - Prob. 1ECh. 12.4 - Prob. 2ECh. 12.4 - Prob. 3ECh. 12.4 - Describe how to find the upper and lower quotas...Ch. 12.4 - Prob. 5ECh. 12.4 - Prob. 6ECh. 12.4 - Prob. 7ECh. 12.4 - Prob. 8ECh. 12.4 - Prob. 9ECh. 12.4 - Prob. 10ECh. 12.4 - In Exercises 912, find the standard divisor for...Ch. 12.4 - Prob. 12ECh. 12.4 - Prob. 13ECh. 12.4 - Prob. 14ECh. 12.4 - Prob. 15ECh. 12.4 - Prob. 16ECh. 12.4 - Prob. 17ECh. 12.4 - Prob. 18ECh. 12.4 - Prob. 19ECh. 12.4 - Prob. 20ECh. 12.4 - Prob. 21ECh. 12.4 - Prob. 22ECh. 12.4 - Prob. 23ECh. 12.4 - Prob. 24ECh. 12.4 - Prob. 25ECh. 12.4 - For Exercises 2628 find: (a)The standard divisor....Ch. 12.4 - Prob. 27ECh. 12.4 - Prob. 28ECh. 12.4 - Prob. 29ECh. 12.4 - Prob. 30ECh. 12.4 - Prob. 31ECh. 12.4 - Prob. 32ECh. 12.4 - Prob. 33ECh. 12.4 - Prob. 34ECh. 12.4 - Prob. 35ECh. 12.4 - Prob. 36ECh. 12.4 - Prob. 37ECh. 12.4 - Prob. 38ECh. 12.4 - Prob. 39ECh. 12.4 - Prob. 40ECh. 12.4 - Prob. 41ECh. 12.4 - Prob. 42ECh. 12.4 - Prob. 43ECh. 12.5 - Prob. 1TTOCh. 12.5 - Try This One 2
A county with three districts has...Ch. 12.5 - Prob. 3TTOCh. 12.5 - Prob. 1ECh. 12.5 - Prob. 2ECh. 12.5 - Prob. 3ECh. 12.5 - Prob. 4ECh. 12.5 - What is the quota rule? Which apportionment...Ch. 12.5 - Prob. 6ECh. 12.5 - Prob. 7ECh. 12.5 - Prob. 8ECh. 12.5 - Prob. 9ECh. 12.5 - Prob. 10ECh. 12.5 - Prob. 11ECh. 12.5 - Prob. 12ECh. 12.5 - The table shows the enrollment at two campuses of...Ch. 12.5 - Prob. 14ECh. 12.5 - Prob. 15ECh. 12.5 - Prob. 16ECh. 12.5 - Write an essay explaining why many people feel...Ch. 12.5 - 18. Which do you think is more serious: violating...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Use this information for Exercises 14: the...Ch. 12 - Prob. 4RECh. 12 - Prob. 5RECh. 12 - Prob. 6RECh. 12 - Prob. 7RECh. 12 - Prob. 8RECh. 12 - Prob. 9RECh. 12 - Prob. 10RECh. 12 - Prob. 11RECh. 12 - Prob. 12RECh. 12 - Prob. 13RECh. 12 - Prob. 14RECh. 12 - Use this information for Exercises 917: a large...Ch. 12 - Prob. 16RECh. 12 - Use this information for Exercises 917: a large...Ch. 12 - Prob. 18RECh. 12 - Prob. 19RECh. 12 - Prob. 20RECh. 12 - Prob. 21RECh. 12 - Prob. 22RECh. 12 - Prob. 23RECh. 12 - Prob. 24RECh. 12 - Prob. 25RECh. 12 - Prob. 26RECh. 12 - Prob. 27RECh. 12 - Prob. 28RECh. 12 - Prob. 29RECh. 12 - A community college bought 15 laptop computers to...Ch. 12 - Prob. 31RECh. 12 - Prob. 32RECh. 12 - Prob. 33RECh. 12 - Prob. 34RECh. 12 - Prob. 35RECh. 12 - Repeat exercise 30 using the Huntington-Hill...Ch. 12 - Prob. 37RECh. 12 - Prob. 38RECh. 12 - Prob. 39RECh. 12 - Prob. 40RECh. 12 - Prob. 41RECh. 12 - Prob. 42RECh. 12 - Prob. 43RECh. 12 - Prob. 1CTCh. 12 - Prob. 2CTCh. 12 - Prob. 3CTCh. 12 - Prob. 4CTCh. 12 - Prob. 5CTCh. 12 - Prob. 6CTCh. 12 - Prob. 7CTCh. 12 - Prob. 8CTCh. 12 - Use this information for Exercises 512: a small...Ch. 12 - Prob. 10CTCh. 12 - Prob. 11CTCh. 12 - Prob. 12CTCh. 12 - Prob. 13CTCh. 12 - An airline offers nonstop flights from Fort...Ch. 12 - Prob. 15CTCh. 12 - Repeat Problem 14 using Websters method.Ch. 12 - Repeat Problem 14 using the Huntington-Hill...Ch. 12 - Prob. 18CTCh. 12 - Prob. 19CTCh. 12 - Prob. 20CTCh. 12 - Prob. 21CT
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