EP INTRODUCTORY STATISTICS-MYSTATLAB
3rd Edition
ISBN: 9780135190210
Author: Gould
Publisher: PEARSON CO
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Textbook Question
Chapter 13, Problem 2SE
In what situations are nonparametric statistics useful?
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PEER REPLY 1:
Choose a classmate's Main Post and review their decision making process.
1. Choose a risk level for each of the states of nature (assign a probability
value to each).
2. Explain why each risk level is chosen.
3. Which alternative do you believe would be the best based on the maximum
EMV?
4. Do you feel determining the expected value with perfect information
(EVWPI) is worthwhile in this situation? Why or why not?
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.
You are provided with data that includes all 50 states of the United States. Your task is to draw a sample of: o 20 States using Random Sampling (2 points: 1 for random number generation; 1 for random sample) o 10 States using Systematic Sampling (4 points: 1 for random numbers generation; 1 for random sample different from the previous answer; 1 for correct K value calculation table; 1 for correct sample drawn by using systematic sampling) (For systematic sampling, do not use the original data directly. Instead, first randomize the data, and then use the randomized dataset to draw your sample. Furthermore, do not use the random list previously generated, instead, generate a new random sample for this part. For more details, please see the snapshot provided at the end.) Upload a Microsoft Excel file with two separate sheets. One sheet provides random sampling while the other provides systematic sampling. Excel snapshots that can help you in organizing columns are provided on the next…
Chapter 13 Solutions
EP INTRODUCTORY STATISTICS-MYSTATLAB
Ch. 13 - What is the fundamental condition required for...Ch. 13 - In what situations are nonparametric statistics...Ch. 13 - In addition to random samples, what other...Ch. 13 - What summary statistics are best used to report...Ch. 13 - Prob. 5SECh. 13 - Prob. 6SECh. 13 - Prob. 7SECh. 13 - Log Transforms a. Find the log (base 10) of each...Ch. 13 - Prob. 9SECh. 13 - Prob. 10SE
Ch. 13 - Prob. 11SECh. 13 - Morning Routine A statistics student conducted a...Ch. 13 - Exercise Hours A statistics student was interested...Ch. 13 - Television Viewing A Nielsen poll asked people the...Ch. 13 - Lead Exposure (Example 3) Excessive lead levels...Ch. 13 - Juvenile Delinquents Dr. Kirkland R. Gable (in...Ch. 13 - The Stroop Effect Suppose you had to identify the...Ch. 13 - Reading Material on Colored Paper In the past,...Ch. 13 - Males’ Pulse Rates Students in a statistics class...Ch. 13 - Females’ Pulse Rates Refer to exercise 13.19. This...Ch. 13 - Ages of Brides and Grooms A random sample of the...Ch. 13 - Textbook Prices A student was interested in...Ch. 13 - Meat-Eating Behavior (Example 4) A researcher was...Ch. 13 - Credit Card Debt A statistics student who was...Ch. 13 - Prob. 25SECh. 13 - Sleep Typically, do men and women sleep different...Ch. 13 - Cell Phone Bills Cell phone bills (rounded to the...Ch. 13 - Weights of Athletes Data were collected on the...Ch. 13 - Happiness A StatCrunch survey of happiness...Ch. 13 - Soda A StatCrunch survey was done asking what...Ch. 13 - Sports and Extraversion (Example 5) Are students...Ch. 13 - Happiness Are women happier than men? A StatCrunch...Ch. 13 - College Students and Credit Card Debt In exercise...Ch. 13 - Soda Does soda constitute a larger part of the...Ch. 13 - Rainfall In a well-known study on the effects of...Ch. 13 - Rainfall Refer to exercise 13.35, which discussed...Ch. 13 - Randomization Exercise 13.35 describes a...Ch. 13 - Randomization Exercise 13.35 describes a...Ch. 13 - Prob. 39CRECh. 13 - For exercises 13.39 through 13.46, choose from the...Ch. 13 - Prob. 41CRECh. 13 - For exercises 13.39 through 13.46, choose from the...Ch. 13 - Prob. 43CRECh. 13 - Prob. 44CRECh. 13 - For exercises 13.39 through 13.46, choose from the...Ch. 13 - For exercises 13.39 through 13.46, choose from the...Ch. 13 - Ice Cream Cones McDonald’s claims that its ice...Ch. 13 - Average Body Temperatures Many people believe that...Ch. 13 - Contacting Mom Random samples of 30 professors of...Ch. 13 - 13.50 through 13.54 Texts Sent and Received...Ch. 13 - 13.50 through 13.54 Texts Sent and Received...Ch. 13 - 13.50 through 13.54 Texts Sent and Received...Ch. 13 - 13.50 through 13.54 Texts Sent and Received...Ch. 13 - 13.50 through 13.54 Texts Sent and Received...Ch. 13 - Geometric Mean The dotplot shows the number of...Ch. 13 - Looking at the data about contacting mom (exercise...Ch. 13 - Resampling Moms We performed a randomization test...Ch. 13 - Prob. 58CRECh. 13 - Prob. 59CRECh. 13 - Prob. 60CRE
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