Introductory Statistics (10th Edition)
10th Edition
ISBN: 9780321989178
Author: Neil A. Weiss
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Videos
Question
Chapter 16, Problem 26RP
To determine
Test whether the data provide sufficient evidence to conclude that a difference exists in mean losses exists among the three types of robberies.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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 16 Solutions
Introductory Statistics (10th Edition)
Ch. 16.1 - How do we identify an F-distribution and its...Ch. 16.1 - How many degrees of freedom does an F-curve have?...Ch. 16.1 - What symbol is used to denote the F-value having...Ch. 16.1 - Using the F-notation, identify the F-value having...Ch. 16.1 - An F-curve has df = (12, 7). What is the number of...Ch. 16.1 - An F-curve has df = (8, 19). What is the number of...Ch. 16.1 - In Exercises 16.716.10, use Table VIII in Appendix...Ch. 16.1 - Prob. 8ECh. 16.1 - Prob. 9ECh. 16.1 - Prob. 10E
Ch. 16.2 - One-way ANOVA is a procedure for comparing the...Ch. 16.2 - If we define s=MSE, of which parameter is s an...Ch. 16.2 - Explain the reason for the word variance in the...Ch. 16.2 - For a one-way ANOVA test, suppose that, in...Ch. 16.2 - Regarding one-way ANOVA, fill in the blanks in...Ch. 16.2 - Regarding one-way ANOVA, fill in the blanks in...Ch. 16.2 - Regarding one-way ANOVA, fill in the blanks in...Ch. 16.2 - Explain the logic behind one-way ANOVA.Ch. 16.2 - What does the term one-way signify in the phrase...Ch. 16.2 - Figure 16.6 shows side-by-side boxplots of...Ch. 16.2 - Figure 16.7 shows side-by-side boxplots of...Ch. 16.2 - Discuss two methods for checking the assumptions...Ch. 16.2 - In one-way ANOVA, what is the residual of an...Ch. 16.2 - In Exercises 16.24-16.29, we have provided data...Ch. 16.2 - In Exercises 16.24-16.29. we have provided data...Ch. 16.2 - In Exercises 16.24-16.29, we have provided data...Ch. 16.2 - In Exercises 16.24-16.29, we have provided data...Ch. 16.2 - In Exercises 16.24-16.29, we have provided data...Ch. 16.2 - In Exercises 16.24-16.29, we have provided data...Ch. 16.2 - Show that, for two populations, MSE=sp2, where is...Ch. 16.2 - Suppose that the variable under consideration is...Ch. 16.3 - Suppose that a one-way ANOVA is being performed to...Ch. 16.3 - We stated earlier that a one-way ANOVA test is...Ch. 16.3 - Following are the notations for the three sums of...Ch. 16.3 - State the one-way ANOVA identity, and interpret...Ch. 16.3 - True or false: If you know any two of the three...Ch. 16.3 - In each part, specify what type of analysis you...Ch. 16.3 - Prob. 38ECh. 16.3 - In Exercises 16.38-16.41, fill in the missing...Ch. 16.3 - In Exercises 16.38-16.41 fill in the missing...Ch. 16.3 - Prob. 41ECh. 16.3 - In Exercises 16.42-16.47. wt provide data from...Ch. 16.3 - In Exercises 16.42-16.47, we provide data from...Ch. 16.3 - Prob. 44ECh. 16.3 - Prob. 45ECh. 16.3 - Prob. 46ECh. 16.3 - Prob. 47ECh. 16.3 - Prob. 48ECh. 16.3 - Copepod Cuisine. Copepods are tiny crustaceans...Ch. 16.3 - In Exercises 16.48-16.53, apply Procedure 16.1 on...Ch. 16.3 - Staph Infections. In the article Using EDE, ANOVA...Ch. 16.3 - Prob. 52ECh. 16.3 - Prob. 53ECh. 16.3 - Prob. 54ECh. 16.3 - Prob. 55ECh. 16.3 - In Exercises 16.54-16.59, use the technology of...Ch. 16.3 - Prob. 57ECh. 16.3 - In Exercises 16.54-16.59, use. the technology of...Ch. 16.3 - Prob. 59ECh. 16.3 - Prob. 60ECh. 16.3 - Prob. 61ECh. 16.3 - In Exercises 16.60-16.63, refer to the discussion...Ch. 16.3 - Starting Salaries. The National Association of...Ch. 16.3 - Working with Large Data Sets In Exercises...Ch. 16.3 - Working with Large Data Sets In Exercises...Ch. 16.3 - In Exercises 16.64-16.72, use the technology of...Ch. 16.3 - In Exercises 16.6416.72, use the technology of...Ch. 16.3 - In Exercises 16.64-16.72, use the technology of...Ch. 16.3 - In Exercises 16.64-16.72, use the technology of...Ch. 16.3 - Prob. 70ECh. 16.3 - Prob. 71ECh. 16.3 - Prob. 72ECh. 16.3 - Prob. 73ECh. 16.3 - Prob. 74ECh. 16.3 - Prob. 75ECh. 16.4 - What is the purpose of doing a multiple...Ch. 16.4 - Fill in the blank: If a confidence interval for...Ch. 16.4 - Explain the difference between the family...Ch. 16.4 - Regarding family and individual confidence levels,...Ch. 16.4 - What is the name of the distribution on which the...Ch. 16.4 - The parameter v for the q-curve in a Tukey...Ch. 16.4 - Explain the essential difference between obtaining...Ch. 16.4 - Determine the following for a q-curve with...Ch. 16.4 - Determine the following for a q-curve with...Ch. 16.4 - Find the following for a q-curve with parameters K...Ch. 16.4 - Find the following for a q-curve with parameters K...Ch. 16.4 - Suppose that you conduct a one-way ANOVA test and...Ch. 16.4 - In Exercises 16.88-16.93, we repeal the data from...Ch. 16.4 - In Exercises 16.88-16.93, we repeat the data from...Ch. 16.4 - In Exercises 16.88-16.93, we repeat the data from...Ch. 16.4 - In Exercises 16.88-16.93, we repeat the data from...Ch. 16.4 - In Exercises 16.88-16.93, we repeat the data from...Ch. 16.4 - Prob. 93ECh. 16.4 - Prob. 94ECh. 16.4 - In Exercises 16.94-16.99, use Procedure 16.2 on...Ch. 16.4 - In Exercises 16.94-16.99, use Procedure 16.2 on...Ch. 16.4 - In Exercises 16.94-16.99, use Procedure 16.2 on...Ch. 16.4 - Prob. 98ECh. 16.4 - Prob. 99ECh. 16.4 - Prob. 100ECh. 16.4 - Prob. 101ECh. 16.4 - In Exercises 16.100-16.105, use the technology of...Ch. 16.4 - Prob. 103ECh. 16.4 - Prob. 104ECh. 16.4 - Prob. 105ECh. 16.4 - In Exercises 16.106-16.109, use Procedure 10.2 on...Ch. 16.4 - Prob. 107ECh. 16.4 - Prob. 108ECh. 16.4 - Prob. 109ECh. 16.4 - Prob. 110ECh. 16.4 - In Exercises 16.110-16.118, we repeat information...Ch. 16.4 - Prob. 112ECh. 16.4 - Prob. 113ECh. 16.4 - Prob. 114ECh. 16.4 - In Exercises 16.110-16.118, we repeat information...Ch. 16.4 - Prob. 116ECh. 16.4 - Prob. 117ECh. 16.4 - In Exercises 16.110-16.16.118, we repeat...Ch. 16.4 - Explain why the family confidence level, not the...Ch. 16.4 - Prob. 120ECh. 16.4 - Energy Consumption. Apply Table 16.11 on page 723...Ch. 16.5 - Prob. 122ECh. 16.5 - Prob. 123ECh. 16.5 - Prob. 124ECh. 16.5 - Prob. 125ECh. 16.5 - Prob. 126ECh. 16.5 - The measure of total variation of all the ranks is...Ch. 16.5 - Regarding a Kruskal-Wallis test, fill in the...Ch. 16.5 - Prob. 129ECh. 16.5 - Prob. 130ECh. 16.5 - In each of Exercises 16.130-16.133, suppose that...Ch. 16.5 - Prob. 132ECh. 16.5 - Prob. 133ECh. 16.5 - Prob. 134ECh. 16.5 - Prob. 135ECh. 16.5 - Prob. 136ECh. 16.5 - Prob. 137ECh. 16.5 - Prob. 138ECh. 16.5 - Prob. 139ECh. 16.5 - Prob. 140ECh. 16.5 - Prob. 141ECh. 16.5 - Prob. 142ECh. 16.5 - Prob. 143ECh. 16.5 - Prob. 144ECh. 16.5 - In Exercises 16.144-16.149, perform a...Ch. 16.5 - In Exercises 16.144-16.149, perform a...Ch. 16.5 - In Exercises 16.144-16.149, perform a...Ch. 16.5 - Prob. 148ECh. 16.5 - Prob. 149ECh. 16.5 - Prob. 150ECh. 16.5 - Prob. 151ECh. 16.5 - Prob. 152ECh. 16.5 - Prob. 153ECh. 16.5 - Prob. 154ECh. 16.5 - Prob. 155ECh. 16.5 - Prob. 156ECh. 16.5 - Prob. 157ECh. 16.5 - Prob. 158ECh. 16.5 - Prob. 159ECh. 16.5 - Prob. 160ECh. 16.5 - Prob. 161ECh. 16.5 - Prob. 162ECh. 16.5 - Prob. 163ECh. 16.5 - Prob. 164ECh. 16.5 - Prob. 165ECh. 16.5 - Prob. 166ECh. 16.5 - Prob. 167ECh. 16 - For what is one-way ANOVA used?Ch. 16 - State the four assumptions for one-way ANOVA, and...Ch. 16 - On what distribution does one-way ANOVA rely?Ch. 16 - Suppose that you want to compare the means of...Ch. 16 - Prob. 5RPCh. 16 - In one-way ANOVA, a. list and interpret the three...Ch. 16 - Prob. 7RPCh. 16 - Prob. 8RPCh. 16 - Prob. 9RPCh. 16 - Prob. 10RPCh. 16 - Prob. 11RPCh. 16 - Suppose that you want to compare the means of...Ch. 16 - Prob. 13RPCh. 16 - Prob. 14RPCh. 16 - Prob. 15RPCh. 16 - Prob. 16RPCh. 16 - In Problems 17-21, consider an F-curve with df =...Ch. 16 - Prob. 18RPCh. 16 - Prob. 19RPCh. 16 - Prob. 20RPCh. 16 - Prob. 21RPCh. 16 - Consider a q -curve with parameters 3 and 14. a....Ch. 16 - Consider the following hypothetical samples. A B C...Ch. 16 - Losses to Robbery. The Federal Bureau of...Ch. 16 - Prob. 25RPCh. 16 - Prob. 26RPCh. 16 - Prob. 27RPCh. 16 - Losses to Robbery. Refer to Problem 24. a. At the...Ch. 16 - Foot-pressure Angle. Genu valgum, commonly known...Ch. 16 - Prob. 30RPCh. 16 - Prob. 31RPCh. 16 - Prob. 32RPCh. 16 - In Problems 3234, use the technology of your...Ch. 16 - Prob. 34RPCh. 16 - Prob. 35RPCh. 16 - In Problems 3537, refer to the specified problem...Ch. 16 - Prob. 37RPCh. 16 - Recall from Chapter 1 (see page 34) that the Focus...Ch. 16 - SELF-PERCEPTION AND PHYSICAL ACTIVITY As you...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- The population mean and standard deviation are given below. Find the required probability and determine whether the given sample mean would be considered unusual. For a sample of n = 65, find the probability of a sample mean being greater than 225 if μ = 224 and σ = 3.5. For a sample of n = 65, the probability of a sample mean being greater than 225 if μ=224 and σ = 3.5 is 0.0102 (Round to four decimal places as needed.)arrow_forward***Please do not just simply copy and paste the other solution for this problem posted on bartleby as that solution does not have all of the parts completed for this problem. Please answer this I will leave a like on the problem. The data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharingarrow_forwardThe data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharingarrow_forward
- The following relates to Problems 4 and 5. Christchurch, New Zealand experienced a major earthquake on February 22, 2011. It destroyed 100,000 homes. Data were collected on a sample of 300 damaged homes. These data are saved in the file called CIEG315 Homework 4 data.xlsx, which is available on Canvas under Files. A subset of the data is shown in the accompanying table. Two of the variables are qualitative in nature: Wall construction and roof construction. Two of the variables are quantitative: (1) Peak ground acceleration (PGA), a measure of the intensity of ground shaking that the home experienced in the earthquake (in units of acceleration of gravity, g); (2) Damage, which indicates the amount of damage experienced in the earthquake in New Zealand dollars; and (3) Building value, the pre-earthquake value of the home in New Zealand dollars. PGA (g) Damage (NZ$) Building Value (NZ$) Wall Construction Roof Construction Property ID 1 0.645 2 0.101 141,416 2,826 253,000 B 305,000 B T 3…arrow_forwardRose Par posted Apr 5, 2025 9:01 PM Subscribe To: Store Owner From: Rose Par, Manager Subject: Decision About Selling Custom Flower Bouquets Date: April 5, 2025 Our shop, which prides itself on selling handmade gifts and cultural items, has recently received inquiries from customers about the availability of fresh flower bouquets for special occasions. This has prompted me to consider whether we should introduce custom flower bouquets in our shop. We need to decide whether to start offering this new product. There are three options: provide a complete selection of custom bouquets for events like birthdays and anniversaries, start small with just a few ready-made flower arrangements, or do not add flowers. There are also three possible outcomes. First, we might see high demand, and the bouquets could sell quickly. Second, we might have medium demand, with a few sold each week. Third, there might be low demand, and the flowers may not sell well, possibly going to waste. These outcomes…arrow_forwardConsider the state space model X₁ = §Xt−1 + Wt, Yt = AX+Vt, where Xt Є R4 and Y E R². Suppose we know the covariance matrices for Wt and Vt. How many unknown parameters are there in the model?arrow_forward
- Business Discussarrow_forwardYou want to obtain a sample to estimate the proportion of a population that possess a particular genetic marker. Based on previous evidence, you believe approximately p∗=11% of the population have the genetic marker. You would like to be 90% confident that your estimate is within 0.5% of the true population proportion. How large of a sample size is required?n = (Wrong: 10,603) Do not round mid-calculation. However, you may use a critical value accurate to three decimal places.arrow_forward2. [20] Let {X1,..., Xn} be a random sample from Ber(p), where p = (0, 1). Consider two estimators of the parameter p: 1 p=X_and_p= n+2 (x+1). For each of p and p, find the bias and MSE.arrow_forward
- 1. [20] The joint PDF of RVs X and Y is given by xe-(z+y), r>0, y > 0, fx,y(x, y) = 0, otherwise. (a) Find P(0X≤1, 1arrow_forward4. [20] Let {X1,..., X} be a random sample from a continuous distribution with PDF f(x; 0) = { Axe 5 0, x > 0, otherwise. where > 0 is an unknown parameter. Let {x1,...,xn} be an observed sample. (a) Find the value of c in the PDF. (b) Find the likelihood function of 0. (c) Find the MLE, Ô, of 0. (d) Find the bias and MSE of 0.arrow_forward3. [20] Let {X1,..., Xn} be a random sample from a binomial distribution Bin(30, p), where p (0, 1) is unknown. Let {x1,...,xn} be an observed sample. (a) Find the likelihood function of p. (b) Find the MLE, p, of p. (c) Find the bias and MSE of p.arrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Introduction to experimental design and analysis of variance (ANOVA); Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=vSFo1MwLoxU;License: Standard YouTube License, CC-BY