Business Math (11th Edition)
11th Edition
ISBN: 9780134496436
Author: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Publisher: PEARSON
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Chapter 21.3, Problem 1-1SC
To determine
To calculate: The current ratio for Cannon Motors if the current assets are
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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.
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.
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Use the accompanying Grade Point Averages data to find 80%,85%, and 99%confidence intervals for the mean GPA.
view the Grade Point Averages data.
Gender College GPAFemale Arts and Sciences 3.21Male Engineering 3.87Female Health Science 3.85Male Engineering 3.20Female Nursing 3.40Male Engineering 3.01Female Nursing 3.48Female Nursing 3.26Female Arts and Sciences 3.50Male Engineering 3.00Female Arts and Sciences 3.13Female Nursing 3.34Female Nursing 3.67Female Education 3.45Female Engineering 3.17Female Health Science 3.28Female Nursing 3.25Male Engineering 3.72Female Arts and Sciences 2.68Female Nursing 3.40Female Health Science 3.76Female Arts and Sciences 3.72Female Education 3.44Female Arts and Sciences 3.61Female Education 3.29Female Nursing 3.20Female Education 3.80Female Business 3.26Male…
Chapter 21 Solutions
Business Math (11th Edition)
Ch. 21.1 - Prob. 1-1SCCh. 21.1 - Prob. 1-2SCCh. 21.1 - Prob. 1-3SCCh. 21.1 - Prob. 1-4SCCh. 21.1 - Prob. 2-1SCCh. 21.1 - Prob. 2-2SCCh. 21.1 - Prob. 2-3SCCh. 21.1 - Prob. 2-4SCCh. 21.1 - Prob. 3-1SCCh. 21.1 - Prob. 3-2SC
Ch. 21.1 - Prob. 3-3SCCh. 21.1 - Prob. 3-4SCCh. 21.1 - Prob. 1SECh. 21.1 - Prob. 2SECh. 21.1 - Prob. 3SECh. 21.1 - Prob. 4SECh. 21.1 - Prob. 5SECh. 21.1 - Prob. 6SECh. 21.1 - Prob. 7SECh. 21.1 - Prob. 8SECh. 21.1 - Prob. 9SECh. 21.1 - Prob. 10SECh. 21.1 - Prob. 11SECh. 21.1 - Prob. 12SECh. 21.2 - Prob. 1-1SCCh. 21.2 - Prob. 1-2SCCh. 21.2 - Prob. 1-3SCCh. 21.2 - Prob. 1-4SCCh. 21.2 - Prob. 2-1SCCh. 21.2 - Prob. 2-2SCCh. 21.2 - Prob. 2-3SCCh. 21.2 - Prob. 2-4SCCh. 21.2 - Prob. 1SECh. 21.2 - Prob. 2SECh. 21.2 - Prob. 3SECh. 21.2 - Prob. 4SECh. 21.2 - Prob. 5SECh. 21.2 - Prob. 6SECh. 21.2 - Prob. 7SECh. 21.3 - Prob. 1-1SCCh. 21.3 - Prob. 1-2SCCh. 21.3 - Prob. 1-3SCCh. 21.3 - Prob. 1-4SCCh. 21.3 - Prob. 1-5SCCh. 21.3 - Prob. 1-6SCCh. 21.3 - Prob. 1-7SCCh. 21.3 - Prob. 1-8SCCh. 21.3 - Prob. 1-9SCCh. 21.3 - Prob. 1-10SCCh. 21.3 - Prob. 1SECh. 21.3 - Prob. 2SECh. 21.3 - Prob. 3SECh. 21.3 - Prob. 4SECh. 21.3 - Prob. 5SECh. 21.3 - Prob. 6SECh. 21.3 - Prob. 7SECh. 21.3 - Prob. 8SECh. 21.3 - Prob. 9SECh. 21.3 - Prob. 10SECh. 21 - Prob. 1ESCh. 21 - Prob. 2ESCh. 21 - Prob. 3ESCh. 21 - Prob. 4ESCh. 21 - Prob. 5ESCh. 21 - Prob. 6ESCh. 21 - Prob. 7ESCh. 21 - Prob. 8ESCh. 21 - Prob. 9ESCh. 21 - Prob. 10ESCh. 21 - Prob. 11ESCh. 21 - Prob. 12ESCh. 21 - Prob. 13ESCh. 21 - Prob. 14ESCh. 21 - Prob. 15ESCh. 21 - Prob. 16ESCh. 21 - Prob. 17ESCh. 21 - Prob. 18ESCh. 21 - Prob. 19ESCh. 21 - Prob. 20ESCh. 21 - Prob. 21ESCh. 21 - Prob. 22ESCh. 21 - Prob. 23ESCh. 21 - Prob. 24ESCh. 21 - Prob. 25ESCh. 21 - Prob. 26ESCh. 21 - Prob. 1PTCh. 21 - Prob. 2PTCh. 21 - Prob. 3PTCh. 21 - Prob. 4PTCh. 21 - Prob. 5PTCh. 21 - Prob. 6PTCh. 21 - Prob. 7PTCh. 21 - Prob. 8PTCh. 21 - Prob. 9PTCh. 21 - Prob. 10PTCh. 21 - Prob. 11PTCh. 21 - Prob. 12PTCh. 21 - Prob. 1CTCh. 21 - Prob. 2CTCh. 21 - Prob. 3CTCh. 21 - Prob. 4CTCh. 21 - Prob. 5CTCh. 21 - Prob. 6CTCh. 21 - Prob. 7CTCh. 21 - Prob. 8CTCh. 21 - Prob. 9CTCh. 21 - Prob. 10CTCh. 21 - Prob. 11CTCh. 21 - Prob. 1CPCh. 21 - Prob. 2CPCh. 21 - Prob. 3CPCh. 21 - Prob. 1CS1Ch. 21 - Prob. 2CS1Ch. 21 - Prob. 3CS1Ch. 21 - Prob. 1CS2
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