Elementary Statistics with Student Access Kit
12th Edition
ISBN: 9780321869470
Author: Mario F. Triola
Publisher: PEARSON
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Chapter 13, Problem 4RE
To determine
To test: The randomness for the above and below the
To check: Whether the results suggest an upward trend or a downward trend.
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Could you please answer this question using excel.Thanks
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.
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values. Then calculate
it again, letting Row 2 represent the x-values and Row 1 the y-values. What effect does switching the variables have
on r?
Row 1
Row 2
13
149
25
36
41
60
62
78
S
205
122
195
173
133
197
24
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values.
r=0.164 (Round to three decimal places as needed.)
S
24
Chapter 13 Solutions
Elementary Statistics with Student Access Kit
Ch. 13.2 - Prob. 1BSCCh. 13.2 - Prob. 2BSCCh. 13.2 - Prob. 3BSCCh. 13.2 - Prob. 4BSCCh. 13.2 - Prob. 5BSCCh. 13.2 - Prob. 6BSCCh. 13.2 - Prob. 7BSCCh. 13.2 - Prob. 8BSCCh. 13.2 - Prob. 9BSCCh. 13.2 - Prob. 10BSC
Ch. 13.2 - In Exercises 9-12, use the sign test for the data...Ch. 13.2 - Prob. 12BSCCh. 13.2 - Prob. 13BSCCh. 13.2 - In Exercises 13-16, use the sign test for the...Ch. 13.2 - Prob. 15BSCCh. 13.2 - In Exercises 13-16, use the sign test for the...Ch. 13.2 - Appendix B Data Sets.In Exercises 13-16, refer to...Ch. 13.2 - Prob. 18BSCCh. 13.2 - Appendix B Data Sets.In Exercises 17-20, refer to...Ch. 13.2 - Appendix B Data Sets.In Exercises 17-20, refer to...Ch. 13.2 - Procedures for Handling Ties In the sign test...Ch. 13.2 - Prob. 22BBCh. 13.3 - Wilcoxon Signed-Ranks Test for Freshman 15 The...Ch. 13.3 - Prob. 2BSCCh. 13.3 - Prob. 3BSCCh. 13.3 - Prob. 4BSCCh. 13.3 - Prob. 5BSCCh. 13.3 - Prob. 6BSCCh. 13.3 - Using the Wilcoxon Signed-Ranks Test.In Exercises...Ch. 13.3 - Prob. 8BSCCh. 13.3 - Prob. 9BSCCh. 13.3 - Prob. 10BSCCh. 13.3 - Appendix B Data Sets.In Exercises 9-12, refer to...Ch. 13.3 - Prob. 12BSCCh. 13.3 - Prob. 13BBCh. 13.4 - Prob. 1BSCCh. 13.4 - Prob. 2BSCCh. 13.4 - Prob. 3BSCCh. 13.4 - Prob. 4BSCCh. 13.4 - Prob. 5BSCCh. 13.4 - Prob. 6BSCCh. 13.4 - Prob. 7BSCCh. 13.4 - Prob. 8BSCCh. 13.4 - Prob. 9BSCCh. 13.4 - Prob. 10BSCCh. 13.4 - Prob. 11BSCCh. 13.4 - Prob. 12BSCCh. 13.4 - Prob. 13BBCh. 13.4 - Prob. 14BBCh. 13.5 - Effect of Lead on IQ Score Listed below are full...Ch. 13.5 - Prob. 2BSCCh. 13.5 - Notation For the data given in Exercise 1,...Ch. 13.5 - Prob. 4BSCCh. 13.5 - Prob. 5BSCCh. 13.5 - Prob. 6BSCCh. 13.5 - Prob. 7BSCCh. 13.5 - Using tho Kruskal-Wallis Test.In Exercises 5-8,...Ch. 13.5 - Prob. 9BSCCh. 13.5 - Prob. 10BSCCh. 13.5 - Prob. 11BSCCh. 13.5 - Car Crash Measurements Refer to Data See 13 in...Ch. 13.5 - Prob. 13BBCh. 13.6 - Regression If the methods of this section arc used...Ch. 13.6 - Level of Measurement Which of the levels of...Ch. 13.6 - Prob. 3BSCCh. 13.6 - Prob. 4BSCCh. 13.6 - Prob. 5BSCCh. 13.6 - Prob. 6BSCCh. 13.6 - Prob. 7BSCCh. 13.6 - Testing for Rank Correlation. In Exercises 7-12,...Ch. 13.6 - Prob. 9BSCCh. 13.6 - Testing for Rank Correlation. In Exercises 7-12,...Ch. 13.6 - Prob. 11BSCCh. 13.6 - Prob. 12BSCCh. 13.6 - Appendix B Data Sets. In Exercises 13-16, use the...Ch. 13.6 - Prob. 14BSCCh. 13.6 - Appendix B Data Sets. In Exercises 13-16, use the...Ch. 13.6 - Prob. 16BSCCh. 13.6 - Prob. 17BBCh. 13.7 - Prob. 1BSCCh. 13.7 - Prob. 2BSCCh. 13.7 - Prob. 3BSCCh. 13.7 - Prob. 4BSCCh. 13.7 - Prob. 5BSCCh. 13.7 - Prob. 6BSCCh. 13.7 - Prob. 7BSCCh. 13.7 - Prob. 8BSCCh. 13.7 - Prob. 9BSCCh. 13.7 - Baseball World Series Victories Test the claim...Ch. 13.7 - Prob. 11BSCCh. 13.7 - Prob. 12BSCCh. 13 - Prob. 1CQQCh. 13 - Prob. 2CQQCh. 13 - Prob. 3CQQCh. 13 - Prob. 4CQQCh. 13 - Prob. 5CQQCh. 13 - Prob. 6CQQCh. 13 - Prob. 7CQQCh. 13 - Prob. 8CQQCh. 13 - Prob. 9CQQCh. 13 - Sign Test Identify three different applications of...Ch. 13 - Prob. 1RECh. 13 - Prob. 2RECh. 13 - Prob. 3RECh. 13 - Prob. 4RECh. 13 - Prob. 5RECh. 13 - Using Nonparametric Tests. In Exercises 110, use a...Ch. 13 - Prob. 7RECh. 13 - Prob. 8RECh. 13 - Prob. 9RECh. 13 - Prob. 10RECh. 13 - Prob. 1CRECh. 13 - Please be aware that some of the following...Ch. 13 - Prob. 3CRECh. 13 - Prob. 4CRECh. 13 - Prob. 5CRECh. 13 - Prob. 6CRECh. 13 - Prob. 7CRECh. 13 - Prob. 8CRECh. 13 - Prob. 9CRECh. 13 - Prob. 10CRECh. 13 - Prob. 11TPCh. 13 - Prob. 10FDD
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