Finite Mathematics (11th Edition)
11th Edition
ISBN: 9780321979438
Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey
Publisher: PEARSON
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Textbook Question
Chapter 4.2, Problem 1E
In Exercises 1-6, the initial tableau of a linear programming problem is given. Use the simplex method to solve each problem.
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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.
Please type out answer
Chapter 4 Solutions
Finite Mathematics (11th Edition)
Ch. 4.1 - Convert each inequality into an equation by adding...Ch. 4.1 - Prob. 2ECh. 4.1 - Convert each inequality into an equation by adding...Ch. 4.1 - Prob. 4ECh. 4.1 - For Exercises 5-8. (a) determine the number of...Ch. 4.1 - Prob. 6ECh. 4.1 - For Exercises 5-8, (a) determine the number of...Ch. 4.1 - For Exercises 5-8, (a) determine the number of...Ch. 4.1 -
Introduce slack variables as necessary, then...Ch. 4.1 - Introduce slack variables as necessary, then write...
Ch. 4.1 - Introduce slack variables as necessary, then write...Ch. 4.1 - Introduce slack variables as necessary, then write...Ch. 4.1 - Prob. 13ECh. 4.1 - Introduce slack variables as necessary, then write...Ch. 4.1 -
Write the solutions that can be read from each...Ch. 4.1 - Write the solutions that can be read from each...Ch. 4.1 - Prob. 17ECh. 4.1 - Prob. 18ECh. 4.1 - Pivot once as indicated in each simplex tableau....Ch. 4.1 - Pivot once as indicated in each simplex tableau....Ch. 4.1 - Prob. 21ECh. 4.1 - Prob. 22ECh. 4.1 - Prob. 23ECh. 4.1 - Prob. 24ECh. 4.1 - Explain the purpose of a slack variable.Ch. 4.1 - Prob. 26ECh. 4.1 - Prob. 27ECh. 4.1 - Set up Exercises 2731 for solution by the simplex...Ch. 4.1 - Set up Exercises 2731 for solution by the simplex...Ch. 4.1 - Set up Exercises 2731 for solution by the simplex...Ch. 4.1 - Set up Exercises 27for solution by the simplex...Ch. 4.2 -
In Exercises 1-6, the initial tableau of a linear...Ch. 4.2 -
In Exercises 1-6, the initial tableau of a linear...Ch. 4.2 - In Exercises 1-6, the initial tableau of a linear...Ch. 4.2 - In Exercises 1-6, the initial tableau of a linear...Ch. 4.2 -
In Exercises 1-6, the initial tableau of a linear...Ch. 4.2 - In Exercises 1- the initial tableau of a linear...Ch. 4.2 -
Use the simplex method to solve each linear...Ch. 4.2 - Prob. 8ECh. 4.2 - Prob. 9ECh. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Prob. 11ECh. 4.2 - Prob. 12ECh. 4.2 -
Use the simplex method to solve each linear...Ch. 4.2 - Prob. 14ECh. 4.2 - Use the simplex method to solve each linear...Ch. 4.2 - Prob. 16ECh. 4.2 - Prob. 17ECh. 4.2 - Prob. 18ECh. 4.2 - The simplex algorithm still works if an indicator...Ch. 4.2 -
20. What goes wrong if a quotient other than...Ch. 4.2 - Prob. 21ECh. 4.2 - Prob. 22ECh. 4.2 - Prob. 23ECh. 4.2 -
Set up and solve Exercises 23–29 by the...Ch. 4.2 -
Set up and solve Exercises 23–29 by the simplex...Ch. 4.2 - Set up and solve Exercises 23–29 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Set up and solve Exercises 2329 by the simplex...Ch. 4.2 - Prob. 29ECh. 4.2 - Profit A manufacturer makes two products, toy...Ch. 4.2 - Exercises and 32 come from past CPA examinations....Ch. 4.2 - Prob. 32ECh. 4.2 - Prob. 33ECh. 4.2 - Prob. 34ECh. 4.2 - Prob. 35ECh. 4.2 - Prob. 36ECh. 4.2 -
37. Resource Management The average weights of...Ch. 4.2 - Prob. 38ECh. 4.2 - Prob. 39ECh. 4.2 - Prob. 40ECh. 4.3 -
Find the transpose of each matrix.
1.
Ch. 4.3 - Prob. 2ECh. 4.3 - Prob. 3ECh. 4.3 - Find the transpose of each matrix. [...Ch. 4.3 -
State the dual problem for each linear...Ch. 4.3 - Prob. 6ECh. 4.3 -
State the dual problem for each linear...Ch. 4.3 - Prob. 8ECh. 4.3 - Prob. 9ECh. 4.3 -
Use the simples method to solve.
10. Find y1 ≥...Ch. 4.3 -
Use the simplex method to solve.
11. Find y1 ≥...Ch. 4.3 -
Use the simplex method to solve.
12. Minimize w...Ch. 4.3 - Prob. 13ECh. 4.3 -
Use the simplex method to solve.
14. Minimize w =...Ch. 4.3 - Prob. 15ECh. 4.3 - Prob. 16ECh. 4.3 - Prob. 17ECh. 4.3 - Prob. 18ECh. 4.3 -
19. Production Costs A brewery produces regular...Ch. 4.3 - Supply Costs The chemistry department at a local...Ch. 4.3 - Prob. 21ECh. 4.3 - Prob. 22ECh. 4.3 - Prob. 23ECh. 4.3 -
24. Animal Food An animal food must provide at...Ch. 4.3 - Feed Costs Refer to Example 5 in this section on...Ch. 4.3 - Prob. 26ECh. 4.3 - Calorie Expenditure Maureen Rachford wants to...Ch. 4.3 -
28. Health Care Greg Conover takes vitamin...Ch. 4.3 - 29. Blending Nutrients A biologist must make a...Ch. 4.4 - Prob. 1ECh. 4.4 - Prob. 2ECh. 4.4 - Prob. 3ECh. 4.4 - Prob. 4ECh. 4.4 -
Convert each problem into a maximization...Ch. 4.4 - Prob. 6ECh. 4.4 - Prob. 7ECh. 4.4 - Prob. 8ECh. 4.4 - Prob. 9ECh. 4.4 - Prob. 10ECh. 4.4 - Use the simplex method to solve. Find x1 0, x2 0...Ch. 4.4 - Prob. 12ECh. 4.4 - Prob. 13ECh. 4.4 - Prob. 14ECh. 4.4 - Prob. 15ECh. 4.4 - Prob. 16ECh. 4.4 - Prob. 17ECh. 4.4 - Prob. 18ECh. 4.4 - Solve using artificial variables. Maximize w =...Ch. 4.4 - Prob. 20ECh. 4.4 - Prob. 21ECh. 4.4 - Prob. 22ECh. 4.4 - Prob. 23ECh. 4.4 - Prob. 24ECh. 4.4 - Prob. 25ECh. 4.4 - Prob. 26ECh. 4.4 - Prob. 27ECh. 4.4 - Blending Seed Topgrade Turf lawn seed mixture...Ch. 4.4 - Prob. 29ECh. 4.4 - Prob. 30ECh. 4.4 - 31. Blending Chemicals Natural Brand plant food is...Ch. 4.4 - Prob. 32ECh. 4.4 -
33. Calorie Expenditure Joe Vetere’s exercise...Ch. 4 - Suppose you plan to build a raised flower bed...Ch. 4 - For the list of standard paper roll widths given...Ch. 4 - Prob. 3EACh. 4 - For the computer solution of the cutting problem,...Ch. 4 - Prob. 5EACh. 4 - Prob. 6EACh. 4 - Suppose that of the original 33 cutting patterns,...Ch. 4 - Prob. 8EACh. 4 - Compare your two answers from Exercise 8 with each...Ch. 4 - Prob. 10EACh. 4 -
Determine whether each of the following...Ch. 4 - Prob. 2RECh. 4 -
Determine whether each of the following...Ch. 4 - Prob. 4RECh. 4 -
Determine whether each of the following...Ch. 4 - Prob. 6RECh. 4 - Prob. 7RECh. 4 - Prob. 8RECh. 4 - Prob. 9RECh. 4 - Determine whether each of the following statements...Ch. 4 - Determine whether each of the following statements...Ch. 4 - Prob. 12RECh. 4 - Prob. 13RECh. 4 - Prob. 14RECh. 4 - Prob. 15RECh. 4 -
Determine whether each of the following...Ch. 4 -
For each problem. (a) add slack variables or...Ch. 4 - For each problem, (a) add slack variables or...Ch. 4 -
For each problem, (a) add slack variables or...Ch. 4 - For each problem, (a) add slack variables or...Ch. 4 -
Use the simplex method to solve each maximization...Ch. 4 - Use the simplex method to solve each maximization...Ch. 4 -
Use the simplex method to solve each maximization...Ch. 4 - Use the simplex method to solve each maximization...Ch. 4 - Convert each problem into a maximization problem...Ch. 4 - Convert each problem into a maximization problem...Ch. 4 - Prob. 27RECh. 4 - Prob. 28RECh. 4 - Prob. 29RECh. 4 - Prob. 30RECh. 4 - Prob. 31RECh. 4 - Prob. 32RECh. 4 - Prob. 33RECh. 4 - Prob. 34RECh. 4 - Prob. 35RECh. 4 -
36. In Chapter 2 we wrote a system of It near...Ch. 4 - Prob. 37RECh. 4 - Prob. 38RECh. 4 - Prob. 39RECh. 4 - Prob. 40RECh. 4 - Prob. 41RECh. 4 - Prob. 42RECh. 4 - Prob. 43RECh. 4 - Prob. 44RECh. 4 - Prob. 45RECh. 4 - Prob. 46RECh. 4 - Prob. 47RE
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