Statistics
4th Edition
ISBN: 9780393929720
Author: David Freedman, Robert Pisani, Roger Purves
Publisher: Norton, W. W. & Company, Inc.
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Chapter 29.8, Problem 11SRE
To determine
Find the percentile rank for Person S on the second-year GPA, relative to all the students in the study.
Delineate the reason if the percentile rank cannot be determined from the information and provide the necessary information that is needed about the percentile rank.
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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.
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.
Chapter 29 Solutions
Statistics
Ch. 29.1 - Prob. 1EACh. 29.1 - Prob. 2EACh. 29.2 - Prob. 1EBCh. 29.2 - Prob. 2EBCh. 29.2 - Prob. 3EBCh. 29.2 - Prob. 4EBCh. 29.2 - Prob. 5EBCh. 29.2 - Prob. 6EBCh. 29.2 - Prob. 7EBCh. 29.2 - Prob. 8EB
Ch. 29.2 - Prob. 9EBCh. 29.3 - Prob. 1ECCh. 29.3 - Prob. 2ECCh. 29.3 - Prob. 3ECCh. 29.3 - Prob. 4ECCh. 29.3 - Prob. 5ECCh. 29.3 - Prob. 6ECCh. 29.3 - Prob. 7ECCh. 29.3 - Prob. 8ECCh. 29.4 - Prob. 1EDCh. 29.4 - Prob. 2EDCh. 29.4 - Prob. 3EDCh. 29.4 - Prob. 4EDCh. 29.4 - Prob. 5EDCh. 29.4 - Prob. 6EDCh. 29.5 - Prob. 1EECh. 29.5 - Prob. 2EECh. 29.5 - Prob. 3EECh. 29.5 - Prob. 4EECh. 29.7 - Prob. 1RECh. 29.7 - Prob. 2RECh. 29.7 - Prob. 3RECh. 29.7 - Prob. 4RECh. 29.7 - Prob. 5RECh. 29.7 - Prob. 6RECh. 29.7 - Prob. 7RECh. 29.7 - Prob. 8RECh. 29.7 - Prob. 9RECh. 29.7 - Prob. 10RECh. 29.7 - Prob. 11RECh. 29.7 - Prob. 12RECh. 29.8 - Prob. 1SRECh. 29.8 - Prob. 2SRECh. 29.8 - Prob. 3SRECh. 29.8 - Prob. 4SRECh. 29.8 - Prob. 5SRECh. 29.8 - Prob. 6SRECh. 29.8 - Prob. 7SRECh. 29.8 - Prob. 8SRECh. 29.8 - Prob. 9SRECh. 29.8 - Prob. 10SRECh. 29.8 - Prob. 11SRECh. 29.8 - Prob. 12SRECh. 29.8 - Prob. 13SRECh. 29.8 - Prob. 14SRECh. 29.8 - Prob. 15SRECh. 29.8 - Prob. 16SRECh. 29.8 - Prob. 17SRECh. 29.8 - Prob. 18SRECh. 29.8 - Prob. 19SRECh. 29.8 - Prob. 20SRECh. 29.8 - Prob. 21SRECh. 29.8 - Prob. 22SRECh. 29.8 - Prob. 23SRECh. 29.8 - Prob. 24SRECh. 29.8 - Prob. 25SRECh. 29.8 - Prob. 26SRECh. 29.8 - Prob. 27SRECh. 29.8 - Prob. 28SRECh. 29.8 - Prob. 29SRECh. 29.8 - Prob. 30SRECh. 29.8 - Prob. 31SRECh. 29.8 - Prob. 32SRECh. 29.8 - Prob. 33SRECh. 29.8 - Prob. 34SRECh. 29.8 - Prob. 35SRECh. 29.8 - Prob. 36SRECh. 29.8 - Prob. 37SRECh. 29.8 - Prob. 38SRECh. 29.8 - Prob. 39SRECh. 29.8 - Prob. 40SRE
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