College Mathematics for Trades and Technologies (10th Edition) (What's New in Trade Math)
10th Edition
ISBN: 9780134690339
Author: Cheryl Cleaves, Margie Hobbs
Publisher: PEARSON
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Chapter 16.1, Problem 41E
To determine
To make: The comparison chart of the results from Exercise 39 and Exercise 40 and conclude about the effective investment strategy.
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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.
A population that is uniformly distributed between a=0and b=10 is given in sample sizes
50( ),
100( ),
250( ),
and
500( ).
Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below.
Standard Error of the
Mean =sigma/Root
Complete the following table with the results from the sampling experiment.
(Round to four decimal places as needed.)
Sample Size
Average of 8 Sample Means
Standard Deviation of 8 Sample Means
Standard Error
50
100
250
500
Chapter 16 Solutions
College Mathematics for Trades and Technologies (10th Edition) (What's New in Trade Math)
Ch. 16.1 - Prob. 1LCCh. 16.1 - Prob. 1ECh. 16.1 - Prob. 2ECh. 16.1 - Prob. 3ECh. 16.1 - Prob. 4ECh. 16.1 - Prob. 5ECh. 16.1 - Prob. 6ECh. 16.1 - Prob. 7ECh. 16.1 - Prob. 8ECh. 16.1 - Prob. 9E
Ch. 16.1 - Prob. 10ECh. 16.1 - Prob. 11ECh. 16.1 - Prob. 12ECh. 16.1 - Prob. 13ECh. 16.1 - Prob. 14ECh. 16.1 - Prob. 15ECh. 16.1 - Prob. 16ECh. 16.1 - Prob. 17ECh. 16.1 - Prob. 18ECh. 16.1 - Prob. 19ECh. 16.1 - Prob. 20ECh. 16.1 - Prob. 21ECh. 16.1 - Prob. 22ECh. 16.1 - Prob. 23ECh. 16.1 - Prob. 24ECh. 16.1 - Prob. 25ECh. 16.1 - Prob. 26ECh. 16.1 - Prob. 27ECh. 16.1 - Prob. 28ECh. 16.1 - Prob. 29ECh. 16.1 - Prob. 30ECh. 16.1 - Prob. 31ECh. 16.1 - Prob. 32ECh. 16.1 - Prob. 33ECh. 16.1 - Prob. 34ECh. 16.1 - Prob. 35ECh. 16.1 - Prob. 36ECh. 16.1 - Prob. 37ECh. 16.1 - Prob. 38ECh. 16.1 - Prob. 39ECh. 16.1 - Prob. 40ECh. 16.1 - Prob. 41ECh. 16.1 - Prob. 42ECh. 16.1 - Prob. 43ECh. 16.1 - Prob. 44ECh. 16.1 - Prob. 45ECh. 16.1 - Prob. 46ECh. 16.1 - Prob. 47ECh. 16.1 - Prob. 48ECh. 16.1 - Prob. 49ECh. 16.1 - Prob. 50ECh. 16.1 - Prob. 51ECh. 16.1 - Prob. 52ECh. 16.1 - Prob. 53ECh. 16.1 - Prob. 54ECh. 16.1 - Prob. 55ECh. 16.1 - Prob. 56ECh. 16.1 - Prob. 57ECh. 16.1 - Prob. 58ECh. 16.1 - Prob. 59ECh. 16.1 - Prob. 60ECh. 16.1 - Prob. 61ECh. 16.1 - Prob. 62ECh. 16.1 - Prob. 63ECh. 16.1 - Prob. 64ECh. 16.1 - Prob. 65ECh. 16.1 - Prob. 66ECh. 16.1 - Prob. 67ECh. 16.1 - Prob. 68ECh. 16.1 - Prob. 69ECh. 16.1 - Prob. 70ECh. 16.1 - Prob. 71ECh. 16.1 - Prob. 72ECh. 16.1 - Prob. 73ECh. 16.1 - Prob. 74ECh. 16.1 - Prob. 75ECh. 16.1 - Prob. 76ECh. 16.1 - Prob. 77ECh. 16.1 - Prob. 78ECh. 16.1 - Prob. 79ECh. 16.1 - Prob. 80ECh. 16.1 - Use a graphing calculator for Exercises 81–86. See...Ch. 16.1 - Prob. 82ECh. 16.1 - Prob. 83ECh. 16.1 - Prob. 84ECh. 16.1 - Prob. 85ECh. 16.1 - Prob. 86ECh. 16.2 - Prob. 1LCCh. 16.2 - Prob. 2LCCh. 16.2 - Prob. 3LCCh. 16.2 - Prob. 1ECh. 16.2 - Write as logarithmic equations.
Ch. 16.2 - Prob. 3ECh. 16.2 - Prob. 4ECh. 16.2 - Prob. 5ECh. 16.2 - Prob. 6ECh. 16.2 - Prob. 7ECh. 16.2 - Prob. 8ECh. 16.2 - Prob. 9ECh. 16.2 - Prob. 10ECh. 16.2 - Write in exponential form.
Ch. 16.2 - Prob. 12ECh. 16.2 - Prob. 13ECh. 16.2 - Prob. 14ECh. 16.2 - Prob. 15ECh. 16.2 - Prob. 16ECh. 16.2 - Prob. 17ECh. 16.2 - Prob. 18ECh. 16.2 - Prob. 19ECh. 16.2 - Prob. 20ECh. 16.2 - Prob. 21ECh. 16.2 - Prob. 22ECh. 16.2 - Prob. 23ECh. 16.2 - Evaluate with a calculator. Express answers to the...Ch. 16.2 - Prob. 25ECh. 16.2 - Prob. 26ECh. 16.2 - Prob. 27ECh. 16.2 - Prob. 28ECh. 16.2 - Prob. 29ECh. 16.2 - Prob. 30ECh. 16.2 - Prob. 31ECh. 16.2 - Solve for x by using an equivalent exponential...Ch. 16.2 - Prob. 33ECh. 16.2 - Prob. 34ECh. 16.2 - Prob. 35ECh. 16.2 - Prob. 36ECh. 16.2 - Prob. 37ECh. 16.2 - Prob. 38ECh. 16.2 - Prob. 39ECh. 16.2 - Prob. 40ECh. 16.2 - Prob. 41ECh. 16.2 - Prob. 42ECh. 16.2 - Prob. 43ECh. 16.2 - Prob. 44ECh. 16.2 - Prob. 45ECh. 16.2 - Prob. 46ECh. 16.2 - Prob. 47ECh. 16.2 - Prob. 48ECh. 16.2 - Prob. 49ECh. 16.2 - Prob. 50ECh. 16.2 - Prob. 51ECh. 16.2 - Prob. 52ECh. 16.2 - Prob. 53ECh. 16.2 - Prob. 54ECh. 16.2 - Prob. 55ECh. 16.2 - Prob. 56ECh. 16.2 - Prob. 57ECh. 16.2 - Prob. 58ECh. 16.2 - Prob. 59ECh. 16.2 - Prob. 60ECh. 16.2 - Prob. 61ECh. 16.2 - Prob. 62ECh. 16.2 - Prob. 63ECh. 16.2 - Prob. 64ECh. 16 - Prob. 1RECh. 16 - Prob. 2RECh. 16 - Prob. 3RECh. 16 - Prob. 4RECh. 16 - Prob. 5RECh. 16 - Prob. 6RECh. 16 - Prob. 7RECh. 16 - Prob. 8RECh. 16 - Prob. 9RECh. 16 - Prob. 10RECh. 16 - Prob. 11RECh. 16 - Prob. 12RECh. 16 - Prob. 13RECh. 16 - Prob. 14RECh. 16 - Prob. 15RECh. 16 - Prob. 16RECh. 16 - Prob. 17RECh. 16 - Prob. 18RECh. 16 - Prob. 19RECh. 16 - Prob. 20RECh. 16 - Prob. 21RECh. 16 - Prob. 22RECh. 16 - Prob. 23RECh. 16 - Prob. 24RECh. 16 - Prob. 25RECh. 16 - Prob. 26RECh. 16 - Prob. 27RECh. 16 - Prob. 28RECh. 16 - Prob. 29RECh. 16 - Prob. 30RECh. 16 - Prob. 31RECh. 16 - Prob. 32RECh. 16 - Prob. 33RECh. 16 - Prob. 34RECh. 16 - Prob. 35RECh. 16 - Prob. 36RECh. 16 - Prob. 37RECh. 16 - Prob. 38RECh. 16 - Prob. 39RECh. 16 - Prob. 40RECh. 16 - Prob. 41RECh. 16 - Prob. 42RECh. 16 - Prob. 43RECh. 16 - Prob. 44RECh. 16 - Prob. 45RECh. 16 - Prob. 46RECh. 16 - Prob. 47RECh. 16 - Prob. 48RECh. 16 - Prob. 49RECh. 16 - Prob. 50RECh. 16 - Prob. 51RECh. 16 - Prob. 52RECh. 16 - Prob. 53RECh. 16 - Prob. 54RECh. 16 - Prob. 55RECh. 16 - Prob. 56RECh. 16 - Prob. 57RECh. 16 - Prob. 58RECh. 16 - Prob. 59RECh. 16 - Prob. 60RECh. 16 - Prob. 61RECh. 16 - Prob. 62RECh. 16 - Prob. 63RECh. 16 - Prob. 64RECh. 16 - Prob. 65RECh. 16 - Prob. 66RECh. 16 - Prob. 67RECh. 16 - Prob. 68RECh. 16 - Prob. 69RECh. 16 - Prob. 70RECh. 16 - Rewrite the following as logarithmic...Ch. 16 - Prob. 72RECh. 16 - Prob. 73RECh. 16 - Prob. 74RECh. 16 - Prob. 75RECh. 16 - Prob. 76RECh. 16 - Prob. 77RECh. 16 - Prob. 78RECh. 16 - Prob. 79RECh. 16 - Prob. 80RECh. 16 - Prob. 81RECh. 16 - Prob. 82RECh. 16 - Prob. 83RECh. 16 - Prob. 84RECh. 16 - Prob. 85RECh. 16 - Prob. 86RECh. 16 - Prob. 87RECh. 16 - Rewrite the following as exponential equations....Ch. 16 - Prob. 89RECh. 16 - Prob. 90RECh. 16 - Prob. 91RECh. 16 - Prob. 92RECh. 16 - Prob. 93RECh. 16 - Prob. 94RECh. 16 - Prob. 95RECh. 16 - Prob. 96RECh. 16 - Prob. 97RECh. 16 - Prob. 98RECh. 16 - Prob. 99RECh. 16 - Prob. 100RECh. 16 - Prob. 101RECh. 16 - Prob. 102RECh. 16 - Prob. 103RECh. 16 - Prob. 104RECh. 16 - Prob. 105RECh. 16 - Prob. 106RECh. 16 - Prob. 107RECh. 16 - Prob. 108RECh. 16 - Prob. 109RECh. 16 - Prob. 110RECh. 16 - Prob. 111RECh. 16 - Prob. 112RECh. 16 - Prob. 113RECh. 16 - Prob. 114RECh. 16 - Prob. 115RECh. 16 - Prob. 116RECh. 16 - Prob. 117RECh. 16 - Prob. 118RECh. 16 - Prob. 119RECh. 16 - Prob. 120RECh. 16 - Prob. 121RECh. 16 - Prob. 1CACh. 16 - Prob. 2CACh. 16 - Prob. 3CACh. 16 - Prob. 4CACh. 16 - Prob. 5CACh. 16 - Prob. 6CACh. 16 - Prob. 7CACh. 16 - Prob. 8CACh. 16 - Prob. 1PTCh. 16 - Prob. 2PTCh. 16 - Prob. 3PTCh. 16 - Prob. 4PTCh. 16 - Prob. 5PTCh. 16 - Prob. 6PTCh. 16 - Prob. 7PTCh. 16 - Prob. 8PTCh. 16 - Prob. 9PTCh. 16 - Prob. 10PTCh. 16 - Prob. 11PTCh. 16 - Prob. 12PTCh. 16 - Prob. 13PTCh. 16 - Prob. 14PTCh. 16 - Prob. 15PTCh. 16 - Prob. 16PTCh. 16 - Prob. 17PTCh. 16 - Prob. 18PTCh. 16 - Prob. 19PTCh. 16 - Prob. 20PTCh. 16 - Prob. 21PTCh. 16 - Prob. 22PTCh. 16 - Prob. 23PTCh. 16 - Prob. 24PTCh. 16 - Prob. 25PTCh. 16 - Prob. 26PTCh. 16 - What is the sinking fund payment required at the...Ch. 16 - Prob. 28PTCh. 16 - Prob. 29PTCh. 16 - Prob. 30PTCh. 16 - Prob. 31PTCh. 16 - Prob. 32PTCh. 16 - Prob. 33PTCh. 16 - Prob. 34PTCh. 16 - Prob. 35PTCh. 16 - Prob. 36PTCh. 16 - Prob. 37PTCh. 16 - Prob. 38PT
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