Practical Business Math Procedures with Business Math Handbook
12th Edition
ISBN: 9781259725067
Author: Jeffrey Slater, Sharon M. Wittry
Publisher: McGraw-Hill Education
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Chapter 20.1, Problem 10AH
To determine
The cash surrender value by using the given data.
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1.
The number of claims is modelled by a NB2(n, p) (the number of fail-
ures before the nth success with probability p of success). The sample x =
(x1, x2,,XN) with N = 100 returns
N
N
xj =
754,
Σε = 70425.
j=1
Estimate the parameters n and p using the point estimates.
[5 Marks]
93
Y
y = f(x)
00
X
3. (i) Consider the following R code:
wilcox.test(UK Supermarkets $Salary ~ UKSupermarkets $Supermarket)
(a) Which test is being used in this code?
(b) What is the name of the dataset under consideration?
How would be adapt this code if we had ties? What other command
can be used which deals with ties?
(ii) Consider the following R code:
install packages("nortest")
library(nortest)
lillie.test (Differences)
(a) Assuming the appropriate dataset has been imported and attached,
what is wrong with this code?
(b) If this code were to be corrected, what would be determined by run-
ning it?
[3 Marks]
Chapter 20 Solutions
Practical Business Math Procedures with Business Math Handbook
Ch. 20.1 - Bill Boot, age 39, purchased a $60,000, 5-year...Ch. 20.1 - Prob. 2PQCh. 20.1 - Prob. 1EPQCh. 20.1 - Prob. 2EPQCh. 20.1 - Use the table in the Business Math Handbook to...Ch. 20.1 - Prob. 2AHCh. 20.1 - Prob. 3AHCh. 20.1 - Prob. 4AHCh. 20.1 - Prob. 5AHCh. 20.1 - Prob. 6AH
Ch. 20.1 - If Gary Thomas decides to cash in his $45,000...Ch. 20.1 - Prob. 8AHCh. 20.1 - Prob. 9AHCh. 20.1 - Prob. 10AHCh. 20.1 - Prob. 11AHCh. 20.2 - Prob. 1PQCh. 20.2 - Prob. 2PQCh. 20.2 - Prob. 3PQCh. 20.2 - Prob. 1EPQCh. 20.2 - Prob. 2EPQCh. 20.2 - Prob. 3EPQCh. 20.2 - Prob. 1AHCh. 20.2 - Prob. 2AHCh. 20.2 - Prob. 3AHCh. 20.2 - Prob. 4AHCh. 20.2 - Prob. 5AHCh. 20.2 - Prob. 6AHCh. 20.2 - Prob. 7AHCh. 20.2 - Prob. 8AHCh. 20.2 - Prob. 9AHCh. 20.2 - Prob. 10AHCh. 20.2 - Prob. 11AHCh. 20.3 - Calculate the annual auto premium for Mel Jones...Ch. 20.3 - Prob. 2PQCh. 20.3 - Prob. 1EPQCh. 20.3 - Prob. 2EPQCh. 20.3 - Prob. 1AHCh. 20.3 - Prob. 2AHCh. 20.3 - Prob. 3AHCh. 20.3 - Prob. 4AHCh. 20.3 - Prob. 5AHCh. 20.3 - Prob. 6AHCh. 20.3 - Prob. 7AHCh. 20.3 - Prob. 8AHCh. 20.3 - Prob. 9AHCh. 20.3 - Prob. 10AHCh. 20.3 - Prob. 11AHCh. 20.3 - Prob. 12AHCh. 20.3 - Prob. 13AHCh. 20.3 - Prob. 14AHCh. 20.3 - Prob. 15AHCh. 20.3 - Prob. 16AHCh. 20 - Prob. 1ECPCh. 20 - Prob. 2ECPCh. 20 - Prob. 3ECPCh. 20 - Prob. 4ECPCh. 20 - Prob. 5ECPCh. 20 - Prob. 6ECPCh. 20 - Prob. 7ECPCh. 20 - Calculate the total cost of a fire insurance...Ch. 20 - Prob. 9ECPCh. 20 - Prob. 10ECPCh. 20 - Prob. 11ECPCh. 20 - Prob. 12ECPCh. 20 - Calculate the annual auto insurance premium for...Ch. 20 - Prob. 14ECPCh. 20 - Prob. 15ECPCh. 20 - Prob. 16ECPCh. 20 - Prob. 17ECPCh. 20 - Prob. 18ECPCh. 20 - Prob. 19ECPCh. 20 - Prob. 20ECPCh. 20 - Prob. 21ECPCh. 20 - Prob. 22ECPCh. 20 - Prob. 23ECPCh. 20 - Prob. 24ECPCh. 20 - Prob. 25ECPCh. 20 - Prob. 26ECPCh. 20 - Marika Katz bought a new Blazer and insured it...Ch. 20 - Prob. 28ECPCh. 20 - Prob. 29ECPCh. 20 - Prob. 30ECPCh. 20 - Prob. 1PTCh. 20 - Prob. 2PTCh. 20 - Prob. 3PTCh. 20 - Prob. 4PTCh. 20 - Prob. 5PTCh. 20 - Prob. 6PT
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- 1. (i) Give the definition of a metric on a set X. [5 Marks] (ii) Let X = {a, b, c} and let a function d : XxX → [0, ∞) be defined as d(a, a) = d(b,b) = d(c, c) 0, d(a, c) = d(c, a) 1, d(a, b) = d(b, a) = 4, d(b, c) = d(c,b) = 2. Decide whether d is a metric on X. Justify your answer. = (iii) Consider a metric space (R, d.), where = [10 Marks] 0 if x = y, d* (x, y) 5 if xy. In the metric space (R, d*), describe: (a) open ball B2(0) of radius 2 centred at 0; (b) closed ball B5(0) of radius 5 centred at 0; (c) sphere S10 (0) of radius 10 centred at 0. [5 Marks] [5 Marks] [5 Marks]arrow_forward(c) sphere S10 (0) of radius 10 centred at 0. [5 Marks] 2. Let C([a, b]) be the metric space of continuous functions on the interval [a, b] with the metric doo (f,g) = max f(x)g(x)|. xЄ[a,b] = 1x. Find: Let f(x) = 1 - x² and g(x): (i) do(f, g) in C'([0, 1]); (ii) do(f,g) in C([−1, 1]). [20 Marks] [20 Marks]arrow_forward1. (i) Explain the difference in application between the Mann-Whitney U test and the Wilcoxon Signed-Rank test, i.e. in which scenarios would each test be used? (ii) What is the main procedure underlying these nonparametric tests? [3 Marks]arrow_forward
- You may need to use the appropriate appendix table or technology to answer this question. You are given the following information obtained from a random sample of 4 observations. 24 48 31 57 You want to determine whether or not the mean of the population from which this sample was taken is significantly different from 49. (Assume the population is normally distributed.) (a) State the null and the alternative hypotheses. (Enter != for ≠ as needed.) H0: Ha: (b) Determine the test statistic. (Round your answer to three decimal places.) (c) Determine the p-value, and at the 5% level of significance, test to determine whether or not the mean of the population is significantly different from 49. Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. Reject H0. There is insufficient evidence to conclude that the mean of the population is different from 49.Do not reject H0. There is sufficient evidence to conclude that the…arrow_forward17arrow_forwardNo chatgpt plsarrow_forward
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