Introduction to the Practice of Statistics
9th Edition
ISBN: 9781319013387
Author: David S. Moore, George P. McCabe, Bruce A. Craig
Publisher: W. H. Freeman
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Chapter 12.2, Problem 34E
(a)
To determine
To find: The contrast that expresses the comparison of average score of freshman and sophomores with average score of juniors and seniors.
(b)
To determine
To find: The contrast that expresses the comparison of mean expenditure on textbooks of freshman and sophomores.
(c)
To determine
To find: The contrast that expresses the comparison of mean expenditure on textbooks of juniors and seniors.
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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
Introduction to the Practice of Statistics
Ch. 12.1 - Prob. 1UYKCh. 12.1 - Prob. 2UYKCh. 12.1 - Prob. 3UYKCh. 12.1 - Prob. 4UYKCh. 12.1 - Prob. 5UYKCh. 12.1 - Prob. 6UYKCh. 12.1 - Prob. 7UYKCh. 12.1 - Prob. 8UYKCh. 12.1 - Prob. 9UYKCh. 12.1 - Prob. 10UYK
Ch. 12.1 - Prob. 11ECh. 12.1 - Prob. 12ECh. 12.1 - Prob. 13ECh. 12.1 - Prob. 14ECh. 12.1 - Prob. 15ECh. 12.1 - Prob. 16ECh. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - Prob. 19ECh. 12.1 - Prob. 20ECh. 12.1 - Prob. 21ECh. 12.1 - Prob. 22ECh. 12.1 - Prob. 23ECh. 12.1 - Prob. 24ECh. 12.1 - Prob. 25ECh. 12.1 - Prob. 26ECh. 12.2 - Prob. 27UYKCh. 12.2 - Prob. 28UYKCh. 12.2 - Prob. 29UYKCh. 12.2 - Prob. 30UYKCh. 12.2 - Prob. 31UYKCh. 12.2 - Prob. 32UYKCh. 12.2 - Prob. 33ECh. 12.2 - Prob. 34ECh. 12.2 - Prob. 35ECh. 12.2 - Prob. 36ECh. 12.2 - Prob. 37ECh. 12.2 - Prob. 38ECh. 12.2 - Prob. 39ECh. 12.2 - Prob. 40ECh. 12.2 - Prob. 41ECh. 12 - Prob. 42ECh. 12 - Prob. 43ECh. 12 - Prob. 44ECh. 12 - Prob. 45ECh. 12 - Prob. 46ECh. 12 - Prob. 47ECh. 12 - Prob. 48ECh. 12 - Prob. 49ECh. 12 - Prob. 50ECh. 12 - Prob. 51ECh. 12 - Prob. 52ECh. 12 - Prob. 53ECh. 12 - Prob. 54ECh. 12 - Prob. 55ECh. 12 - Prob. 56ECh. 12 - Prob. 57ECh. 12 - Prob. 58ECh. 12 - Prob. 59ECh. 12 - Prob. 60ECh. 12 - Prob. 61ECh. 12 - Prob. 62ECh. 12 - Prob. 63ECh. 12 - Prob. 64ECh. 12 - Prob. 65ECh. 12 - Prob. 66ECh. 12 - Prob. 67ECh. 12 - Prob. 68ECh. 12 - Prob. 69ECh. 12 - Prob. 70ECh. 12 - Prob. 71ECh. 12 - Prob. 72ECh. 12 - Prob. 73ECh. 12 - Prob. 74ECh. 12 - Prob. 75ECh. 12 - Prob. 76ECh. 12 - Prob. 77ECh. 12 - Prob. 78ECh. 12 - Prob. 79ECh. 12 - Prob. 80ECh. 12 - Prob. 81ECh. 12 - Prob. 82ECh. 12 - Prob. 83E
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