Elementary Statistics
12th Edition
ISBN: 9780321836960
Author: Mario F. Triola
Publisher: PEARSON
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Chapter 13.3, Problem 9BSC
To determine
To test: The claim that the
To explain: Whether the quarters appear to be minted according to specifications or not.
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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.
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.
From a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean?
Question content area bottom
Part 1
A
9090%
confidence interval for the population mean is
left bracket nothing comma nothing right bracketenter your response here,enter your response here.
(Use ascending order. Round to two decimal places as needed.)
Chapter 13 Solutions
Elementary Statistics
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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