Elementary Technical Mathematics
12th Edition
ISBN: 9781337630580
Author: Dale Ewen
Publisher: Cengage Learning
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Chapter 14, Problem 11CR
To determine
To calculate: The solution of the equation
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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.
Steel Production Planning:
Let S represent the amount of steel produced (in tons). Steel Production is related to the amount of labor used(L) and the amount of capital used ( C ) by the following function:S = 20L⁰˙³⁰C⁰˙⁷⁰In this formula L represents the units of Labor input and C the units of Capital input. Each unit of Labor costs $50, and each unit of Capital costs $100.
a:Formulate an optimization problem that will determine how much labor and capital are needed to produce 50,000 tons of steel at minimum cost.
Q#3B: Solve the optimization problem you formulated in part (a). (Hint: When using Excel Solver, start with an initial L>0 and C>0.)…
Chapter 14 Solutions
Elementary Technical Mathematics
Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Prob. 5ECh. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Prob. 9ECh. 14.1 - Find each value rounded to four significant...
Ch. 14.1 - Prob. 11ECh. 14.1 - Find each value rounded to four significant...Ch. 14.1 - Prob. 13ECh. 14.1 - Graph each equation for value of x between 0 and...Ch. 14.1 - Prob. 15ECh. 14.1 - Graph each equation for value of x between 0 and...Ch. 14.1 - Prob. 17ECh. 14.1 - Prob. 18ECh. 14.1 - Prob. 19ECh. 14.1 - Graph each equation for values of x between 0 and...Ch. 14.1 - Prob. 21ECh. 14.1 - Prob. 22ECh. 14.1 - Prob. 23ECh. 14.1 - Prob. 24ECh. 14.1 - Prob. 25ECh. 14.1 - Prob. 26ECh. 14.1 - Prob. 27ECh. 14.1 - Prob. 28ECh. 14.1 - Prob. 29ECh. 14.1 - Prob. 30ECh. 14.1 - Prob. 31ECh. 14.1 - Prob. 32ECh. 14.1 - A radar unit operates at a wavelength of 3.4 cm....Ch. 14.1 - A local AM radio station broadcasts at 1400 kHz....Ch. 14.1 - Prob. 35ECh. 14.1 - Find the wavelength of water waves with frequency...Ch. 14.1 - Radio antennas are made so that the...Ch. 14.2 - Find the period and amplitude, and graph at least...Ch. 14.2 - Find the period and amplitude, and graph at least...Ch. 14.2 - Find the period and amplitude, and graph at least...Ch. 14.2 - Find the period and amplitude, and graph at least...Ch. 14.2 - Prob. 5ECh. 14.2 - Find the period and amplitude, and graph at least...Ch. 14.2 - Prob. 7ECh. 14.2 - Prob. 8ECh. 14.2 - Prob. 9ECh. 14.2 - Prob. 10ECh. 14.2 - Prob. 11ECh. 14.2 - Prob. 12ECh. 14.2 - Prob. 13ECh. 14.2 - Prob. 14ECh. 14.2 - Prob. 15ECh. 14.2 - Find the period amplitude, and phase shift, and...Ch. 14.2 - Prob. 17ECh. 14.2 - Prob. 18ECh. 14.2 - Prob. 19ECh. 14.2 - Prob. 20ECh. 14.2 - Prob. 21ECh. 14.2 - Prob. 22ECh. 14.2 - Prob. 23ECh. 14.2 - Prob. 24ECh. 14.3 - Solve each triangle using the labels as shown in...Ch. 14.3 - Solve each triangle using the labels as shown in...Ch. 14.3 - Solve each triangle using the labels as shown in...Ch. 14.3 - Solve each triangle using the labels as shown in...Ch. 14.3 - Prob. 5ECh. 14.3 - Prob. 6ECh. 14.3 - Prob. 7ECh. 14.3 - Prob. 8ECh. 14.3 - Prob. 9ECh. 14.3 - Prob. 10ECh. 14.3 - Prob. 11ECh. 14.3 - Prob. 12ECh. 14.3 - Prob. 13ECh. 14.3 - Prob. 14ECh. 14.3 - Prob. 15ECh. 14.3 - Prob. 16ECh. 14.3 - Find the distance AC across the river shown in...Ch. 14.3 - Find the lengths of rafters AC and BC of the roof...Ch. 14.3 - Find the distance AB between the ships shown in...Ch. 14.3 - Find the height of the cliff shown in Illustration...Ch. 14.3 - A contractor needs to grade the slope of a...Ch. 14.3 - A weather balloon is sighted from points A and B,...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - Prob. 11ECh. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - For each general triangle, a. determine the number...Ch. 14.4 - Prob. 16ECh. 14.4 - The owner of a triangular lot wishes to fence it...Ch. 14.4 - The average distance from the sun to the earth is...Ch. 14.4 - A manufacturer has moved into a new building and...Ch. 14.5 - Solve each triangle using the labels as shown in...Ch. 14.5 - Solve each triangle using the labels as shown in...Ch. 14.5 - Prob. 3ECh. 14.5 - Solve each triangle using the labels as shown in...Ch. 14.5 - Prob. 5ECh. 14.5 - Solve each triangle using the labels as shown in...Ch. 14.5 - Prob. 7ECh. 14.5 - Prob. 8ECh. 14.5 - Prob. 9ECh. 14.5 - Prob. 10ECh. 14.5 - Prob. 11ECh. 14.5 - Prob. 12ECh. 14.5 - Prob. 13ECh. 14.5 - a. Find angles A and ABC in the roof in...Ch. 14.5 - Prob. 15ECh. 14.5 - Prob. 16ECh. 14.5 - A plane flies 70.0 mi due north from its base...Ch. 14.5 - Prob. 18ECh. 14.5 - Prob. 19ECh. 14.5 - Prob. 20ECh. 14.5 - A room is shaped like a kite. The lengths of two...Ch. 14.5 - Prob. 22ECh. 14.5 - Prob. 23ECh. 14.5 - In the framework shown in Illustration 8, we know...Ch. 14.5 - Prob. 25ECh. 14.5 - Prob. 26ECh. 14.5 - Prob. 27ECh. 14.5 - Prob. 28ECh. 14.5 - An 8.00-ft antenna must be mounted on the roof of...Ch. 14.5 - Prob. 30ECh. 14.5 - Prob. 31ECh. 14.5 - A game preserve manager is fencing the triangular...Ch. 14 - Find each value rounded to four significant...Ch. 14 - Find each value rounded to four significant...Ch. 14 - Prob. 3RCh. 14 - Prob. 4RCh. 14 - Prob. 5RCh. 14 - Find the period and amplitude, and graph at least...Ch. 14 - Prob. 7RCh. 14 - Find the period, amplitude, and phase shift, and...Ch. 14 - Prob. 9RCh. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Solve each triangle using the labels as shown in...Ch. 14 - Find a. angle B and b. length x in Illustration 2....Ch. 14 - The centers of five holes are equally spaced...Ch. 14 - In the roof truss in Illustration 3, AB=DE,BC=CD,...Ch. 14 - Find each value rounded to four significant...Ch. 14 - Find each value rounded to four significant...Ch. 14 - Find the period, amplitude, and phase shift, and...Ch. 14 - Find angle B in Illustration 1 ILLUSTRATION 1Ch. 14 - Find angle C in Illustration1. ILLUSTRATION 1Ch. 14 - Find side c in Illustration 1. ILLUSTRATION 1Ch. 14 - Find angle C in Illustration 2. ILLUSTRATION 2Ch. 14 - Find angle B in Illustration 2. ILLUSTRATION 2Ch. 14 - Find angle A in Illustration 2. ILLUSTRATION 2Ch. 14 - Find the length of the rafter shown in...Ch. 14 - Prob. 11TCh. 14 - Prob. 1CRCh. 14 - Prob. 2CRCh. 14 - Prob. 3CRCh. 14 - Prob. 4CRCh. 14 - Prob. 5CRCh. 14 - Prob. 6CRCh. 14 - Prob. 7CRCh. 14 - Prob. 8CRCh. 14 - Prob. 9CRCh. 14 - Prob. 10CRCh. 14 - Prob. 11CRCh. 14 - Solve: 7xy=414x2y=8Ch. 14 - Prob. 13CRCh. 14 - Prob. 14CRCh. 14 - Prob. 15CRCh. 14 - Prob. 16CRCh. 14 - Prob. 17CRCh. 14 - Prob. 18CRCh. 14 - Prob. 19CRCh. 14 - Find tan67.2 rounded to four significant digits.Ch. 14 - Prob. 21CRCh. 14 - Prob. 22CRCh. 14 - Prob. 23CRCh. 14 - Prob. 24CRCh. 14 - Prob. 25CRCh. 14 - Prob. 26CRCh. 14 - Prob. 27CRCh. 14 - Prob. 28CRCh. 14 - Prob. 29CRCh. 14 - Prob. 30CR
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