Introductory Statistics
3rd Edition
ISBN: 9780135188927
Author: Gould, Robert, Ryan, Colleen N. (colleen Nooter)
Publisher: Pearson,
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Chapter 14, Problem 10SE
To determine
Whether the given linear regression model
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A test consists of 10 questions made of 5 answers with only one correct answer. To pass the test, a student must answer at least 8 questions correctly. (a) If a student guesses on each question, what is the probability that the student passes the test? (b) Find the mean and standard deviation of the number of correct answers. (c) Is it unusual for a student to pass the test by guessing? Explain.
In a group of 40 people, 35% have never been abroad. Two people are selected at random without replacement and are asked about their past travel experience. a. Is this a binomial experiment? Why or why not? What is the probability that in a random sample of 2, no one has been abroad? b. What is the probability that in a random sample of 2, at least one has been abroad?
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 14 Solutions
Introductory Statistics
Ch. 14 - Predicting Test Scores A professor tells his class...Ch. 14 - Used-Car Values A student wishes to buy a used...Ch. 14 - Height and Age (Example 1) A doctor says he can...Ch. 14 - Units and Semesters The registrar at a small...Ch. 14 - Prob. 5SECh. 14 - Prob. 6SECh. 14 - Prob. 7SECh. 14 - Prob. 8SECh. 14 - Semesters and Credits (Example 4) Figure A shows a...Ch. 14 - Prob. 10SE
Ch. 14 - Salaries Figure A shows a scatterplot of the...Ch. 14 - Prob. 12SECh. 14 - Wages of Twins Figure A shows a scatterplot of...Ch. 14 - Simulated Data Figure A shows a scatterplot of...Ch. 14 - Prob. 15SECh. 14 - Movie Budgets Do movies with bigger budgets tend...Ch. 14 - Education of Parents (Example 7) Each of 29...Ch. 14 - Education of Parents Refer to exercise 14.17 and...Ch. 14 - Student and Parent Heights A random sample of 29...Ch. 14 - Trash The weight of trash (in pounds) produced by...Ch. 14 - Prob. 21SECh. 14 - Prob. 22SECh. 14 - Trash and Confidence Intervals The output provided...Ch. 14 - Movie Budgets In exercise 14.16 you examined the...Ch. 14 - Predicted GPA A student who has been accepted by...Ch. 14 - Used BMWs A used-car dealer is purchasing 50 used...Ch. 14 - Predicted Height (Example 9) A mother wants to...Ch. 14 - Predicted GPA A dean of students at a college...Ch. 14 - Loggers A logging company has the diameter of each...Ch. 14 - Prob. 30SECh. 14 - House Prices (Example 10) Figure A contains the...Ch. 14 - Math SAT Score and GPA Figure A shows information...Ch. 14 - Height and Weight A scatterplot of the heights and...Ch. 14 - Waist Size and Weight A scatterplot of the waist...Ch. 14 - GPA and SAT The figure shows 95#37; prediction...Ch. 14 - Shoes and Heights The scatterplot shows shoe size...Ch. 14 - Height and Weight A scatterplot of the heights and...Ch. 14 - Waist Size and Weight A scatterplot of the waist...Ch. 14 - Baseball Players Figure A shows a scatterplot with...Ch. 14 - Predicting Education Figure A shows a scatterplot...Ch. 14 - Life Expectancy and Gestation Periods for Animals...Ch. 14 - Prob. 42CRE
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