Pearson eText Introductory Statistics: Exploring the World Through Data -- Instant Access (Pearson+)
3rd Edition
ISBN: 9780136880882
Author: Robert Gould, Rebecca Wong
Publisher: PEARSON+
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Chapter 3, Problem 100CRE
To determine
Construct two investigative questions that can be answered using the given graphs.
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A test consists of 10 questions made of 5 answers with only one correct answer. To pass the test, a student must answer at least 8 questions correctly. (a) If a student guesses on each question, what is the probability that the student passes the test? (b) Find the mean and standard deviation of the number of correct answers. (c) Is it unusual for a student to pass the test by guessing? Explain.
In a group of 40 people, 35% have never been abroad. Two people are selected at random without replacement and are asked about their past travel experience. a. Is this a binomial experiment? Why or why not? What is the probability that in a random sample of 2, no one has been abroad? b. What is the probability that in a random sample of 2, at least one has been abroad?
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 3 Solutions
Pearson eText Introductory Statistics: Exploring the World Through Data -- Instant Access (Pearson+)
Ch. 3 - Earnings A sociologist says, “Typically, men in...Ch. 3 - Houses A real estate agent claims that all things...Ch. 3 - Exercise Hours (Example 1) The histogram shows the...Ch. 3 - Sodium The following histogram shows the sodium...Ch. 3 - Tall Buildings The table shows the location and...Ch. 3 - Roller Coasters The table shows the names and...Ch. 3 - River Lengths (Example 2) The table shows the...Ch. 3 - Children of First Ladies This list represents the...Ch. 3 - 200-Meter Run The table show the gold medal...Ch. 3 - Olympic Swimming Times The table shows the...
Ch. 3 - Wedding Costs by Gender (Example 3) StatCrunch did...Ch. 3 - Wedding Costs by Experience StatCrunch did a...Ch. 3 - Surfing College students and surfers Rex Robinson...Ch. 3 - State College Tuition The tuition costs (in...Ch. 3 - Winter Temperatures San Jose and Denver (Example...Ch. 3 - Summer Temperatures L.A. and NYC The histograms...Ch. 3 - Weight Gain during Pregnancy (Example 5) The mean...Ch. 3 - Birth Length The mean birth length for U.S....Ch. 3 - Orange Juice Prices (Example 6) From Amazon.com,...Ch. 3 - Sibling Ages Four siblings are 2, 6, 9, and 10...Ch. 3 - Olympics In the most recent summer Olympics, do...Ch. 3 - Weights Suppose you have a data set with the...Ch. 3 - Home Prices (SC and TN) The prices (in $ thousand)...Ch. 3 - Home Prices (FL and GA) The prices (in $ thousand)...Ch. 3 - Drinkers The number of alcoholic drinks per week...Ch. 3 - Prob. 26SECh. 3 - Standard Deviation Is it possible for a standard...Ch. 3 - Standard Deviation Is it possible for a standard...Ch. 3 - Major League Baseball Runs (Example 7) The...Ch. 3 - Residential Energy Consumption (East) Data on...Ch. 3 - Pollution Index (Example 8) In 2017 a pollution...Ch. 3 - Pollution Index In 2017 a pollution index was...Ch. 3 - Heights and z-Scores The dotplot shows heights of...Ch. 3 - Heights Refer to the dotplot in the previous...Ch. 3 - Unusual IQs (Example 9) Wechsler IQ tests have a...Ch. 3 - Lengths of Pregnancy Distributions of gestation...Ch. 3 - Low-Birth-Weight Babies (Example 10) Babies born...Ch. 3 - Birth Lengths Babies born after 40 weeks gestation...Ch. 3 - Men’s Heights Assume that men’s heights have a...Ch. 3 - Women’s Heights Assume that women’s heights have a...Ch. 3 - Name two measures of the center of a distribution,...Ch. 3 - Name two measures of the variation of a...Ch. 3 - Marvel Movies (Example 11 and 13) The top ten...Ch. 3 - DC Movies The top seven movies based on DC comic...Ch. 3 - Top Seven Marvel Movies (Example 12) Use the data...Ch. 3 - Top Five DC Movies Use the data in Exercise 3.44,...Ch. 3 - Total Energy Consumption Data was collected on the...Ch. 3 - Industrial Energy Consumption Data was collected...Ch. 3 - Outliers a. In your own words, describe to someone...Ch. 3 - Center and Variation When you are comparing two...Ch. 3 - An Error A dieter recorded the number of calories...Ch. 3 - Baseball Strike In 1994, Major League Baseball...Ch. 3 - Home Prices Home prices in San Luis Obispo County...Ch. 3 - Youth Heights The National Longitudinal Survey...Ch. 3 - Senator Years in Office (Example 14) The following...Ch. 3 - MLB Player Ages The following histograms show the...Ch. 3 - Prob. 57SECh. 3 - Death Row: West The following table shows the...Ch. 3 - The Consumer Price Index (CPI) (Example 16)...Ch. 3 - Prob. 60SECh. 3 - Prob. 61SECh. 3 - Mean from a Histogram The histogram shows the...Ch. 3 - Poverty Rates The following boxplot shows the...Ch. 3 - Regional Population Density The figure shows the...Ch. 3 - Professional Sport Ticket Prices The following...Ch. 3 - BA Attainment The following boxplot shows the...Ch. 3 - Matching Boxplots and Histograms a. Report the...Ch. 3 - Matching Boxplots and Histograms Match each of the...Ch. 3 - Public Libraries Data at this text’s website show...Ch. 3 - Gas Taxes Data at this text’s website show the gas...Ch. 3 - Roller Coaster Heights (Example 17) The dotplot...Ch. 3 - Passing the Bar Exam The following dotplot shows...Ch. 3 - Exam Scores The five-number summary for a...Ch. 3 - Exam Scores The five-number summary for a...Ch. 3 - Prob. 75CRECh. 3 - Gas Taxes (West) The following table shows the gas...Ch. 3 - Final Exam Grades The data that follow are final...Ch. 3 - Speeding Tickets College students Diane Glover and...Ch. 3 - Heights The following graph shows the heights for...Ch. 3 - Marathon Times The following histogram of marathon...Ch. 3 - Prob. 81CRECh. 3 - Chain Restaurant Calories The New York Times...Ch. 3 - 12th-Grade Sleep The histogram shows hours of...Ch. 3 - For exercises 3.85 through 3.88, construct two...Ch. 3 - For exercises 3.85 through 3.88, construct two...Ch. 3 - For exercises 3.85 through 3.88, construct two...Ch. 3 - For exercises 3.85 through 3.88, construct two...Ch. 3 - Educational Attainment The tables below show the...Ch. 3 - Unemployment Rates The tables below show the 2015...Ch. 3 - Professional Sports Ticket Prices The following...Ch. 3 - Professional Sports Ticket Prices The following...Ch. 3 - Exam Scores An exam score has a mean of 80 and a...Ch. 3 - Boys’ Heights Three-year-old boys in the United...Ch. 3 - SAT and ACT Scores Quantitative SAT scores have a...Ch. 3 - Children’s Heights Mrs. Diaz has two children: a...Ch. 3 - Prob. 97CRECh. 3 - Students’ Ages Here are the ages of some students...Ch. 3 - Race Times The following graph shows the time it...Ch. 3 - Prob. 100CRECh. 3 - Prob. 101CRECh. 3 - Prob. 102CRE
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