Elementary Statistics 2nd Edition
2nd Edition
ISBN: 9781259724275
Author: William Navidi, Barry Monk
Publisher: McGraw-Hill Education
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Chapter 3, Problem 7CS
To determine
To calculate the mean for both kind of wafers after deleting the necessary outliers.
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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.
To help consumers in purchasing a laptop computer, Consumer Reports calculates an overall test score for each computer tested based upon rating factors such as ergonomics, portability, performance, display, and battery life. Higher overall scores indicate better test results. The following data show the average retail price and the overall score for ten 13-inch models (Consumer Reports website, October 25, 2012).
Brand & Model
Price ($)
Overall Score
Samsung Ultrabook NP900X3C-A01US
1250
83
Apple MacBook Air MC965LL/A
1300
83
Apple MacBook Air MD231LL/A
1200
82
HP ENVY 13-2050nr Spectre XT
950
79
Sony VAIO SVS13112FXB
800
77
Acer Aspire S5-391-9880 Ultrabook
1200
74
Apple MacBook Pro MD101LL/A
1200
74
Apple MacBook Pro MD313LL/A
1000
73
Dell Inspiron I13Z-6591SLV
700
67
Samsung NP535U3C-A01US
600
63
a. Select a scatter diagram with price as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship…
To the Internal Revenue Service, the reasonableness of total itemized deductions depends on the taxpayer’s adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income ($1000s)
Reasonable Amount ofItemized Deductions ($1000s)
22
9.6
27
9.6
32
10.1
48
11.1
65
13.5
85
17.7
120
25.5
Compute b1 and b0 (to 4 decimals).b1 b0 Complete the estimated regression equation (to 2 decimals). = + x
Predict a reasonable level of total itemized deductions for a taxpayer with an adjusted gross income of $52.5 thousand (to 2 decimals). thousand dollarsWhat is the value, in dollars, of…
Chapter 3 Solutions
Elementary Statistics 2nd Edition
Ch. 3.1 - In Exercises 9—12, fill in each blank with the...Ch. 3.1 - In Exercises 9—12, fill in each blank with the...Ch. 3.1 - In Exercises 9—12, fill in each blank with the...Ch. 3.1 - In Exercises 9—12, fill in each blank with the...Ch. 3.1 - In Exercises 13—16, determine whether the...Ch. 3.1 - In Exercises 13—16, determine whether the...Ch. 3.1 - In Exercises 13—16, determine whether the...Ch. 3.1 - In Exercises 13—16, determine whether the...Ch. 3.1 - Find the mean, median, and mode for the following...Ch. 3.1 - Find the mean, median, and mode for the following...
Ch. 3.1 - Find the mean, median, and mode for the following...Ch. 3.1 - Find the mean, median, and mode for the following...Ch. 3.1 - Prob. 19ECh. 3.1 - In Exercises 21—24, use the given frequency...Ch. 3.1 - In Exercises 21—24, use the given frequency...Ch. 3.1 - In Exercises 21—24, use the given frequency...Ch. 3.1 - Use the properties of the mean and median to...Ch. 3.1 - Use the properties of the mean and median to...Ch. 3.1 - Use the properties of the mean and median to...Ch. 3.1 - Use the properties of the mean and median to...Ch. 3.1 - Find the mean, median, and mode of the data in the...Ch. 3.1 - Find the mean, median, and mode of the data in the...Ch. 3.1 - Facebook friends: In a study of Facebook users...Ch. 3.1 - Mean and median height: The National Center for...Ch. 3.1 - Prob. 31ECh. 3.1 - Greater swimmer: In the 2008 OIympic Games. Michel...Ch. 3.1 - Prob. 33ECh. 3.1 - Prob. 34ECh. 3.1 - Prob. 35ECh. 3.1 - Prob. 36ECh. 3.1 - Prob. 37ECh. 3.1 - Prob. 38ECh. 3.1 - Heavy football players: Following are the weights,...Ch. 3.1 - Prob. 40ECh. 3.1 - Flu season: The following table presents the...Ch. 3.1 - News flash: The following table presents the...Ch. 3.1 - Commercial bank: Following arc amounts spend (in...Ch. 3.1 - Prob. 44ECh. 3.1 - Dont drink and drive: The Insurance Institute for...Ch. 3.1 - Prob. 46ECh. 3.1 - Be my Valentine: The following frequency...Ch. 3.1 - Get your degree: The following frequency...Ch. 3.1 - Prob. 49ECh. 3.1 - Take in a show: The following table presents the...Ch. 3.1 - Prob. 51ECh. 3.1 - Sources of news: A sample of 32 U.S. adults was...Ch. 3.1 - Find the mean: The National Center for Health...Ch. 3.1 - Find the median: According to a recent Current...Ch. 3.1 - Find the median: In a recent year, approximately...Ch. 3.1 - Find the median: The National Health and Nutrition...Ch. 3.1 - Prob. 57ECh. 3.1 - Prob. 58ECh. 3.1 - How many numbers? A data set has a median of 17,...Ch. 3.1 - Prob. 60ECh. 3.1 - Prob. 61ECh. 3.1 - Prob. 62ECh. 3.1 - Prob. 63ECh. 3.1 - Prob. 64ECh. 3.1 - Prob. 65ECh. 3.1 - Prob. 66ECh. 3.1 - Prob. 67ECh. 3.1 - Prob. 68ECh. 3.1 - Prob. 69ECh. 3.1 - Prob. 70ECh. 3.1 - Prob. 71ECh. 3.1 - Prob. 72ECh. 3.1 - Prob. 73ECh. 3.1 - Prob. 74ECh. 3.2 - In Exercises 11—14, fill in each blank with the...Ch. 3.2 - In Exercises 11—14, fill in each blank with the...Ch. 3.2 - In Exercises 11—14, fill in each blank with the...Ch. 3.2 - In Exercises 11—14, fill in each blank with the...Ch. 3.2 - In Exercises 15—18, determine whether the...Ch. 3.2 - In Exercises 15—18, determine whether the...Ch. 3.2 - In Exercises 15—18, determine whether the...Ch. 3.2 - In Exercises 15—18, determine whether the...Ch. 3.2 - Find the sample variance and standard deviation...Ch. 3.2 - Find the sample variance and standard deviation...Ch. 3.2 - Find the sample variance and standard deviation...Ch. 3.2 - Find the population variance and standard...Ch. 3.2 - Find the population variance and standard...Ch. 3.2 - Find the population variance and standard...Ch. 3.2 - Approximate the sample variance and standard...Ch. 3.2 - Approximate the sample variance and standard...Ch. 3.2 - Approximate the population variance and standard...Ch. 3.2 - Approximate the population variance and standard...Ch. 3.2 - Prob. 27ECh. 3.2 - Prob. 28ECh. 3.2 - Prob. 29ECh. 3.2 - Prob. 30ECh. 3.2 - Prob. 31ECh. 3.2 - Sports car or convertible? The following table...Ch. 3.2 - Heavy football players: Following are the weights,...Ch. 3.2 - Beer: The following table presents the number of...Ch. 3.2 - Whats your favorite TV show? The following table...Ch. 3.2 - House price: The following table presents price....Ch. 3.2 - Stock prices: Following are the closing prices of...Ch. 3.2 - Stocks or bonds? Following are the annual...Ch. 3.2 - Time to review: The following table presents the...Ch. 3.2 - Age distribution: The ages of residents of Banks...Ch. 3.2 - Lunch break: In a recent survey of 655 working...Ch. 3.2 - Pay your bills: In a large sample of customer...Ch. 3.2 - Newborn babies: A study conducted by the Center...Ch. 3.2 - Internet providers: In a survey of 600 homeowners...Ch. 3.2 - Lunch break: For the data in Exercise 41. Estimate...Ch. 3.2 - Pay your bill: For the data in Exercise 42....Ch. 3.2 - New born babies: For the data in Exercise 43....Ch. 3.2 - Prob. 48ECh. 3.2 - Prob. 49ECh. 3.2 - Empirical Rule OK? The following histogram...Ch. 3.2 - Empirical Rule OK? The following histogram...Ch. 3.2 - Empirical Rule OK? The following histogram...Ch. 3.2 - Whats the temperature? The temperature in a...Ch. 3.2 - Find the standard deviation: The National Center...Ch. 3.2 - Find the standard deviation: The National Center...Ch. 3.2 - Price of electricity: The Energy Information...Ch. 3.2 - Possible or impossible? A data set has a mean of...Ch. 3.2 - Possible or impossible? A data set has a mean of...Ch. 3.2 - Prob. 59ECh. 3.2 - Prob. 60ECh. 3.2 - Height and weight: A Naona1 Center for Health...Ch. 3.2 - Test scores: Scores on a statistics exam had a...Ch. 3.2 - Mean absolute deviation: A measure of spread that...Ch. 3.3 - In Exercises 9—12, fill in each blank with the...Ch. 3.3 - In Exercises 9—12, fill in each blank with the...Ch. 3.3 - In Exercises 9—12, fill in each blank with the...Ch. 3.3 - In Exercises 9—12, fill in each blank with the...Ch. 3.3 - In Exercises 13—16, determine whether the...Ch. 3.3 - In Exercises 13—16, determine whether the...Ch. 3.3 - In Exercises 13—16, determine whether the...Ch. 3.3 - In Exercises 13—16, determine whether the...Ch. 3.3 - A popu1aon has mean =7 and standard deviation =2....Ch. 3.3 - A population has mean =25 and standard deviation...Ch. 3.3 - In Exercises 19 and 20, identify the outlier. Then...Ch. 3.3 - Prob. 16ECh. 3.3 - For the data set 37 82 20 25 31 10 41 44 4 36 68...Ch. 3.3 - For the data set Find the first and third...Ch. 3.3 - For the data set Find the 58th percentile. Find...Ch. 3.3 - For the data set Find the 80th percentile. Find...Ch. 3.3 - Prob. 21ECh. 3.3 - A fish story: The mean length of one-year-old...Ch. 3.3 - Blood pressure in men: The three quartiles for...Ch. 3.3 - Blood pressure in women: The article referred to...Ch. 3.3 - Hazardous waste: Following is a list of the number...Ch. 3.3 - Cholesterol levels: The National Health and...Ch. 3.3 - Commuting to work: Jamie drives to work every...Ch. 3.3 - Windy city by the bay: Following are wind speeds...Ch. 3.3 - Caffeine: Following are the number of grams of...Ch. 3.3 - Prob. 30ECh. 3.3 - Prob. 31ECh. 3.3 - Prob. 32ECh. 3.3 - Bragging rights: After learning his score on a...Ch. 3.3 - Who scored the highest? On a final exam in a large...Ch. 3.3 - Prob. 35ECh. 3.3 - Prob. 36ECh. 3.3 - Prob. 37ECh. 3.3 - Prob. 38ECh. 3.3 - Prob. 39ECh. 3.3 - Boxplot possible? Following is the five-number...Ch. 3.3 - Unusual boxplot: Ten residents of a town were...Ch. 3.3 - Prob. 42ECh. 3.3 - Prob. 43ECh. 3.3 - Prob. 44ECh. 3.3 - z-scores and skewed data: Table 3.9 presents the...Ch. 3 - Of the mean, median and mode, which must be a...Ch. 3 - The prices (in dollars) for a sample of personal...Ch. 3 - Prob. 3CQCh. 3 - Prob. 4CQCh. 3 - Prob. 5CQCh. 3 - Prob. 6CQCh. 3 - Each of the following histograms represents a data...Ch. 3 - In Exercises 8—11, suppose that the mean...Ch. 3 - Prob. 9CQCh. 3 - In Exercises 8—11, suppose that the mean...Ch. 3 - Prob. 11CQCh. 3 - Prob. 12CQCh. 3 - Prob. 13CQCh. 3 - Prob. 14CQCh. 3 - Prob. 15CQCh. 3 - Support your local artist: Following are the...Ch. 3 - Prob. 2RECh. 3 - Prob. 3RECh. 3 - Prob. 4RECh. 3 - Prob. 5RECh. 3 - Prob. 6RECh. 3 - Measure that ball: Each of 16 students measured...Ch. 3 - Prob. 8RECh. 3 - Rivets: A machine makes rivets that are used in...Ch. 3 - Prob. 10RECh. 3 - Prob. 11RECh. 3 - Advertising costs: The amounts spent (in billions)...Ch. 3 - Prob. 13RECh. 3 - Prob. 14RECh. 3 - Prob. 15RECh. 3 - The U.S. Department of Labor annually publishes an...Ch. 3 - Explain why the Empirical Rule is more useful than...Ch. 3 - Prob. 3WAICh. 3 - Prob. 4WAICh. 3 - Percentiles are values that divide a data set into...Ch. 3 - Prob. 1CSCh. 3 - Prob. 2CSCh. 3 - Prob. 3CSCh. 3 - Prob. 4CSCh. 3 - Prob. 5CSCh. 3 - Prob. 6CSCh. 3 - Prob. 7CSCh. 3 - Prob. 8CSCh. 3 - Electronic devices contain electric circuits...
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