ELEMENTARY STATS: STEP BY STEP - CONNECT
10th Edition
ISBN: 9781265626181
Author: Bluman
Publisher: MCG
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Chapter 3.3, Problem 7E
How are deciles related to percentiles?
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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.
From a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean?
Question content area bottom
Part 1
A
9090%
confidence interval for the population mean is
left bracket nothing comma nothing right bracketenter your response here,enter your response here.
(Use ascending order. Round to two decimal places as needed.)
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.
Chapter 3 Solutions
ELEMENTARY STATS: STEP BY STEP - CONNECT
Ch. 3.1 - Teacher Salaries The following data from several...Ch. 3.1 - Roller Coaster Speeds The data show the heights in...Ch. 3.1 - Airport Parking The number of short-term parking...Ch. 3.1 - Length of School Years The lengths of school years...Ch. 3.1 - Observers in the Frogwatch Program The number of...Ch. 3.1 - Top Video Games The following represent XBOX One...Ch. 3.1 - Earnings of Nonliving Celebrities Forbes magazine...Ch. 3.1 - Paid Days Off The data show the number of paid...Ch. 3.1 - Top-Paid CEOs The data shown are the total...Ch. 3.1 - Airline Passengers The data show a sample of the...
Ch. 3.1 - Foreign Workers The number of foreign workers...Ch. 3.1 - Distances of Stars Of the 25 brightest stars, the...Ch. 3.1 - Contest Spelling Words The last words given and...Ch. 3.1 - Wind Speeds The data show the maximum wind speeds...Ch. 3.1 - Hourly Compensation for Production Workers The...Ch. 3.1 - Points in Rose Bowl Games The data show the number...Ch. 3.1 - Percentage of Foreign-Born People The percentage...Ch. 3.1 - Percentage of College-Educated Population over 25...Ch. 3.1 - Net Worth of Corporations These data represent the...Ch. 3.1 - Specialty Coffee Shops A random sample of 30...Ch. 3.1 - Commissions Earned This frequency distribution...Ch. 3.1 - Children of U.S. Presidents The data show the...Ch. 3.1 - Enrollments for Selected Independent Religiously...Ch. 3.1 - Automobile Selling Prices Find the weighted mean...Ch. 3.1 - Fat Grams Using the weighted mean, find the...Ch. 3.1 - Diet Cola Preference A recent survey of a new diet...Ch. 3.1 - Costs of Helicopters The costs of three models of...Ch. 3.1 - Final Grade An instructor grades exams, 20%; term...Ch. 3.1 - Final Grade Another instructor gives four 1-hour...Ch. 3.1 - For these situations, state which measure of...Ch. 3.1 - Describe which measure of central tendencymean,...Ch. 3.1 - What types of symbols are used to represent sample...Ch. 3.1 - A local fast-food company claims that the average...Ch. 3.1 - If the mean of five values is 64, find the sum of...Ch. 3.1 - If the mean of five values is 8.2 and four of the...Ch. 3.1 - Find the mean of 10, 20, 30, 40, and 50. a. Add 10...Ch. 3.1 - Harmonic Mean The harmonic mean (HM) is defined as...Ch. 3.1 - Geometric Mean The geometric mean (GM) is defined...Ch. 3.1 - Quadratic Mean A useful mean in the physical...Ch. 3.1 - Median for Grouped Data An approximate median can...Ch. 3.2 - Blood Pressure The table lists means and standard...Ch. 3.2 - What is the relationship between the variance and...Ch. 3.2 - Why might the range not be the best estimate of...Ch. 3.2 - What are the symbols used to represent the...Ch. 3.2 - What are the symbols used to represent the sample...Ch. 3.2 - Why is the unbiased estimator of variance used?Ch. 3.2 - The three data sets have the same mean and range,...Ch. 3.2 - Traveler Spending The data show the traveler...Ch. 3.2 - Cigarette Taxes The increases (in cents) in...Ch. 3.2 - Prob. 9ECh. 3.2 - Size of U.S. States The total surface area (in...Ch. 3.2 - Multiple Births The numbers of various multiple...Ch. 3.2 - Starting Teachers Salaries Starting teachers...Ch. 3.2 - Ages of U.S. Astronaut Candidates The average age...Ch. 3.2 - Times Spent in Rush-Hour Traffic A sample of 12...Ch. 3.2 - Laws Passed The data show the number of public...Ch. 3.2 - Passenger Vehicle Deaths The number of people...Ch. 3.2 - Annual Precipitation Days The number of annual...Ch. 3.2 - Use the data from Exercises 7, 15, and 17...Ch. 3.2 - Pupils Per Teacher The following frequency...Ch. 3.2 - Automotive Fuel Efficiency Thirty automobiles were...Ch. 3.2 - Murders in Cities The data show the number of...Ch. 3.2 - Reaction Times In a study of reaction times to a...Ch. 3.2 - FM Radio Stations A random sample of 30 states...Ch. 3.2 - Murder Rates The data represent the murder rate...Ch. 3.2 - Waterfall Heights The frequency distribution shows...Ch. 3.2 - Baseball Team Batting Averages Team batting...Ch. 3.2 - Missing Work The average number of days that...Ch. 3.2 - Suspension Bridges The lengths (in feet) of the...Ch. 3.2 - Hospital Emergency Waiting Times The mean of the...Ch. 3.2 - Ages of Accountants The average age of the...Ch. 3.2 - Using Chebyshevs theorem, solve these problems for...Ch. 3.2 - The mean of a distribution is 20 and the standard...Ch. 3.2 - In a distribution of 160 values with a mean of 72,...Ch. 3.2 - Calories in Bagels The average number of calories...Ch. 3.2 - Time Spent Online Americans spend an average of 3...Ch. 3.2 - Solid Waste Production The average college student...Ch. 3.2 - Sale Price of Homes The average sale price of...Ch. 3.2 - Trials to Learn a Maze The average of the number...Ch. 3.2 - Farm Sizes The average farm in the United States...Ch. 3.2 - Citrus Fruit Consumption The average U.S. yearly...Ch. 3.2 - SAT Scores The national average for mathematics...Ch. 3.2 - Work Hours for College Faculty The average...Ch. 3.2 - Prices of Musical Instruments The average price of...Ch. 3.2 - Hours of Employment The mean and standard...Ch. 3.2 - Prob. 45ECh. 3.2 - Bonuses The mean and standard deviation of the...Ch. 3.2 - Serum Cholesterol Levels For this data set, find...Ch. 3.2 - Ages of Consumers For this data set, find the mean...Ch. 3.2 - Prob. 49ECCh. 3.2 - Use this data set: 10, 20, 30, 40, 50 a. Find the...Ch. 3.2 - Mean Deviation The mean deviation is found by...Ch. 3.2 - Pearson Coefficient of Skewness A measure to...Ch. 3.2 - All values of a data set must be within sn1 of the...Ch. 3.3 - Determining Dosages In an attempt to determine...Ch. 3.3 - What is a z score?Ch. 3.3 - Define percentile rank.Ch. 3.3 - What is the difference between a percentage and a...Ch. 3.3 - Define quartile.Ch. 3.3 - What is the relationship between quartiles and...Ch. 3.3 - What is a decile?Ch. 3.3 - How are deciles related to percentiles?Ch. 3.3 - To which percentile, quartile, and decile does the...Ch. 3.3 - Vacation Days If the average number of vacation...Ch. 3.3 - Age of Senators The average age of Senators in the...Ch. 3.3 - Marriage Age for Females The mean age at which...Ch. 3.3 - Teachers Salary The average teachers salary in a...Ch. 3.3 - Test Scores Which is a better relative position, a...Ch. 3.3 - College and University Debt A student graduated...Ch. 3.3 - Annual Miles Driven The average miles driven...Ch. 3.3 - Which score indicates the highest relative...Ch. 3.3 - The data show the population (in thousands) for a...Ch. 3.3 - College Room and Board Costs Room and board costs...Ch. 3.3 - Achievement Test Scores The data shown represent...Ch. 3.3 - Airplane Speeds The airborne speeds in miles per...Ch. 3.3 - Average Weekly Earnings The average weekly...Ch. 3.3 - Test Scores Find the percentile rank for each test...Ch. 3.3 - Hurricane Damage Find the percentile rank for each...Ch. 3.3 - Test Scores Find the percentile rank for each test...Ch. 3.3 - Taxes The data for a recent year show the taxes...Ch. 3.3 - Medical Marijuana 2015 Sales Tax: The data show...Ch. 3.3 - Gold Reserves The data show the gold reserves for...Ch. 3.3 - Police Calls in Schools The number of incidents in...Ch. 3.3 - Check each data set for outliers. a. 46, 28, 32,...Ch. 3.3 - Check each data set for outliers. a. 88, 72, 97,...Ch. 3.3 - Another measure of the average is called the...Ch. 3.3 - An employment evaluation exam has a variance of...Ch. 3.3 - A particular standardized test has scores that...Ch. 3.4 - Applying the Concepts 34 The Noisy Workplace...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 16, identify the five-number summary...Ch. 3.4 - For Exercises 710, use each boxplot to identify...Ch. 3.4 - For Exercises 710, use each boxplot to identify...Ch. 3.4 - For Exercises 710, use each boxplot to identify...Ch. 3.4 - For Exercises 7-10. use each boxplot to identify-...Ch. 3.4 - School Graduation Rates The data show a sample of...Ch. 3.4 - Innings Pitched Construct a boxplot for the...Ch. 3.4 - Population of Colonies The data show the...Ch. 3.4 - Visitors Who Travel to Foreign Countries Construct...Ch. 3.4 - Areas of Islands The data show the sizes in square...Ch. 3.4 - Size of Dams These data represent the volumes in...Ch. 3.4 - Largest Dams The data show the heights (in feet)...Ch. 3.4 - Number of Tornadoes A four-month record for the...Ch. 3.4 - Unhealthy Smog Days A modified boxplot can be...Ch. 3 - Bank Failures The data show the number of bank...Ch. 3 - Shark Attacks The number of shark attacks and...Ch. 3 - AID: 1825 | 29/05/2018 3. Systolic Blood Pressure...Ch. 3 - SAT Scores The mean SAT math scores for selected...Ch. 3 - Households of Four Television Networks A survey...Ch. 3 - Investment Earnings An investor calculated these...Ch. 3 - Confirmed Measles Cases The data show a sample of...Ch. 3 - Tallest Buildings The number of stories in the 13...Ch. 3 - Rise in Tides Shown here is a frequency...Ch. 3 - Fuel Capacity The fuel capacity in gallons for...Ch. 3 - If the range of a data set is 24, find the...Ch. 3 - If the range of a data set is 56, find the...Ch. 3 - Textbooks in Professors Offices If the average...Ch. 3 - Magazines in Bookstores A survey of bookstores...Ch. 3 - Cost of Car Rentals A survey of car rental...Ch. 3 - AID: 1825 | 28/05/2018 16. Average Earnings of...Ch. 3 - Labor Charges The average labor charge for...Ch. 3 - Costs to Train Employees For a certain type of...Ch. 3 - Cost of a Mans Haircut The average cost of a mans...Ch. 3 - Exam Completion Time The mean time it takes a...Ch. 3 - Cases of Meningitis The data show the number of...Ch. 3 - Exam Grades Which of these exam grades has a...Ch. 3 - The number of police calls a small police...Ch. 3 - Printer Repairs The frequency distribution shows...Ch. 3 - Check each data set for outliers. a. 506, 511,...Ch. 3 - Check each data set for outliers. a. 14, 18, 27,...Ch. 3 - Named Storms The data show the number of named...Ch. 3 - Hours Worked The data shown here represent the...Ch. 3 - From the Data Bank, choose one of the following...Ch. 3 - Prob. 2DACh. 3 - Prob. 3DACh. 3 - Randomly select 10 values from the number of...Ch. 3 - Prob. 5DACh. 3 - AID: 1825 | 28/05/2018 Determine whether each...Ch. 3 - Prob. 2CQCh. 3 - Determine whether each statement is true or false....Ch. 3 - Prob. 4CQCh. 3 - In a data set, the mode will always be unique.Ch. 3 - Prob. 6CQCh. 3 - Determine whether each statement is true or false....Ch. 3 - Prob. 8CQCh. 3 - Determine whether each statement is true or false....Ch. 3 - Prob. 10CQCh. 3 - Prob. 11CQCh. 3 - Prob. 12CQCh. 3 - Which is not part of the five-number summary? a....Ch. 3 - A statistic that tells the number of standard...Ch. 3 - When a distribution is bell-shaped, approximately...Ch. 3 - Prob. 16CQCh. 3 - Generally, Greek letters are used to represent...Ch. 3 - Prob. 18CQCh. 3 - The symbol for the population standard deviation...Ch. 3 - When the sum of the lowest data value and the...Ch. 3 - If the mode is to the left of the median and the...Ch. 3 - An extremely high or extremely low data value is...Ch. 3 - Prob. 23CQCh. 3 - Prob. 24CQCh. 3 - Employee Years of Service In an advertisement, a...Ch. 3 - Newspapers for Sale The average number of...Ch. 3 - Prob. 27CQCh. 3 - Hours Worked The data shown here represent the...Ch. 3 - Prob. 29CQCh. 3 - Prob. 30CQCh. 3 - Exam Scores On a philosophy comprehensive exam,...Ch. 3 - Prob. 32CQCh. 3 - Prob. 1CTCCh. 3 - Ages of U.S. Residents The table shows the median...
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