
Statistical Reasoning for Everyday Life (5th Edition)
5th Edition
ISBN: 9780134494043
Author: Jeff Bennett, William L. Briggs, Mario F. Triola
Publisher: PEARSON
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Textbook Question
Chapter 3.1, Problem 1E
Frequency Table. What is a frequency table? How does it show categories and frequencies?
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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.
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values. Then calculate
it again, letting Row 2 represent the x-values and Row 1 the y-values. What effect does switching the variables have
on r?
Row 1
Row 2
13
149
25
36
41
60
62
78
S
205
122
195
173
133
197
24
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values.
r=0.164 (Round to three decimal places as needed.)
S
24
Chapter 3 Solutions
Statistical Reasoning for Everyday Life (5th Edition)
Ch. 3.1 - Frequency Table. What is a frequency table? How...Ch. 3.1 - Relative Frequency. What do we mean by relative...Ch. 3.1 - Cumulative Frequency. What do we mean by...Ch. 3.1 - Binning. What is the purpose of binning? Give an...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...
Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Birth Days. Births at a hospital in New York State...Ch. 3.1 - Clinical Trial. As part of a clinical trial, the...Ch. 3.1 - Train Derailments. An analysis of 50 train...Ch. 3.1 - Analysis of Last Digits. Weights of respondents...Ch. 3.1 - Academy Award-Winning Male Actors. The following...Ch. 3.1 - Body Temperatures. The following data show the...Ch. 3.1 - Loaded Die. An experiment was conducted in which a...Ch. 3.1 - Interpreting Family Data. Consider the following...Ch. 3.1 - Computer Keyboards. The traditional keyboard...Ch. 3.1 - Double Binning. The students in a statistics class...Ch. 3.2 - Distribution Graph. What is a distribution of...Ch. 3.2 - Qualitative Data. Which types of graph described...Ch. 3.2 - Yearly Data. Which type of graph described in this...Ch. 3.2 - Histogram and Stemplot. Assume that a data set is...Ch. 3.2 - Prob. 5ECh. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Histogram. Children living near a smelter in Texas...Ch. 3.2 - Understanding Data. Suppose you have a list of...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Academy Award-Winning Male Actors. Exercise 17 in...Ch. 3.2 - Body Temperatures. Exercise 18 in Section 3.1...Ch. 3.2 - Job Hunting. A survey was conducted to determine...Ch. 3.2 - Job Hunting. Refer to the data given in Exercise...Ch. 3.2 - Prob. 19ECh. 3.2 - Job Application Mistakes Construct a Pareto chart...Ch. 3.2 - Dotplot. Refer to the QWERTY data in Exercise 21...Ch. 3.2 - Dotplot. Refer to the Dvorak data in Exercise 21...Ch. 3.2 - Stemplot. Construct a stemplot of these test...Ch. 3.2 - Stemplot. Listed below are the lengths (in...Ch. 3.2 - DJIA. Listed below (in order by row) are annual...Ch. 3.2 - Home Runs. Listed below (in order by row) are the...Ch. 3.3 - Multiple Data. Briefly describe how each of the...Ch. 3.3 - Prob. 2ECh. 3.3 - Prob. 3ECh. 3.3 - Prob. 4ECh. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Public and Private Colleges. The stack plot in...Ch. 3.3 - Home Prices by Region. The graph in Figure 3.21...Ch. 3.3 - Gender and Salary. Consider the display in Figure...Ch. 3.3 - Marriage and Divorce Rates. The graph in Figure...Ch. 3.3 - Prob. 13ECh. 3.3 - College Degrees. The stack plot in Figure 3.25...Ch. 3.3 - Contour Map. For Exercises 17 and 18, refer to the...Ch. 3.3 - Prob. 18ECh. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Infographic. For Exercises 21 and 22, refer to...Ch. 3.3 - Infographic. For Exercises 21 and 22, refer to...Ch. 3.3 - Creating Graphics. Exercises 2326 give tables of...Ch. 3.3 - Creating Graphics. Exercises 2326 give tables of...Ch. 3.3 - Firearms Fatalities. The following table...Ch. 3.3 - Prob. 26ECh. 3.4 - Perceptual Distortion. Use a ruler to measure the...Ch. 3.4 - Prob. 2ECh. 3.4 - Prob. 3ECh. 3.4 - Prob. 4ECh. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Exaggerating a Difference. Weekly instruction time...Ch. 3.4 - Graph of Sounds. In a survey conducted by Kelton...Ch. 3.4 - Graph Dimensions. A newspaper used images of...Ch. 3.4 - Prob. 12ECh. 3.4 - Prob. 13ECh. 3.4 - DJIA. Figure 3.36 on the next page depicts the...Ch. 3.4 - Prob. 15ECh. 3.4 - Prob. 16ECh. 3.4 - Prob. 17ECh. 3.4 - Moores Law. In 1965, Intel cofounder Gordon Moore...Ch. 3.4 - Prob. 19ECh. 3.4 - Prob. 20ECh. 3.4 - Constant Dollars. The graph in Figure 3.41 shows...Ch. 3.4 - Prob. 22ECh. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Pie Chart for Sports Equipment. USA Today reported...Ch. 3 - Pareto Chart for Sports Equipment. Construct a...Ch. 3 - Bar Chart. Figure 3.43 shows the numbers of U.S....Ch. 3 - As a quality control manager at Ford Motor...Ch. 3 - As a quality control manager at Ford, you monitor...Ch. 3 - A stemplot is created with the braking distances...Ch. 3 - A dotplot of braking distances (in feet) of cars...Ch. 3 - The first category in a frequency table is 90100,...Ch. 3 - The first category in a relative frequency table...Ch. 3 - The third category in a frequency table has a...Ch. 3 - Prob. 8CQCh. 3 - When constructing a graph of the same categorical...Ch. 3 - Body Temperatures Listed below are body...Ch. 3 - Why are pictographs generally poor for depicting...Ch. 3 - Note that this graph plots six variables: two...Ch. 3 - Prob. 2.2FCh. 3 - Prob. 2.3F
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