An Introduction to Mathematical Statistics and Its Applications (6th Edition)
6th Edition
ISBN: 9780134114217
Author: Richard J. Larsen, Morris L. Marx
Publisher: PEARSON
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Chapter 4.3, Problem 12Q
To determine
Whetherit can be argued that hypnosis does have an effect on a person’s ESP ability.
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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 4 Solutions
An Introduction to Mathematical Statistics and Its Applications (6th Edition)
Ch. 4.2 - If a typist averages one misspelling in every 3250...Ch. 4.2 - A medical study recently documented that 905...Ch. 4.2 - Five hundred people are attending the first annual...Ch. 4.2 - A chromosome mutation linked with colorblindness...Ch. 4.2 - Suppose that 1% of all items in a supermarket are...Ch. 4.2 - A newly formed life insurance company has...Ch. 4.2 - According to an airline industry report (189),...Ch. 4.2 - Electromagnetic fields generated by power...Ch. 4.2 - Astronomers estimate that as many as one hundred...Ch. 4.2 - During the latter part of the nineteenth century,...
Ch. 4.2 - A random sample of three hundred fifty-six seniors...Ch. 4.2 - Midwestern Skies books ten commuter flights each...Ch. 4.2 - Prob. 13QCh. 4.2 - Prob. 14QCh. 4.2 - Prob. 15QCh. 4.2 - A tool and die press that stamps out cams used in...Ch. 4.2 - In a new fiber-optic communication system,...Ch. 4.2 - Assume that the number of hits, X, that a...Ch. 4.2 - Prob. 19QCh. 4.2 - Suppose a radioactive source is metered for two...Ch. 4.2 - Suppose that on-the-job injuries in a textile mill...Ch. 4.2 - Find P(X=4) if the random variable X has a Poisson...Ch. 4.2 - Prob. 23QCh. 4.2 - Prob. 24QCh. 4.2 - Prob. 25QCh. 4.2 - Prob. 26QCh. 4.2 - Records show that deaths occur at the rate of 0.1...Ch. 4.2 - Fifty spotlights have just been installed in an...Ch. 4.2 - Prob. 29QCh. 4.3 - Use Appendix Table A.1 to evaluate the following...Ch. 4.3 - Let Z be a standard normal random variable. Use...Ch. 4.3 - (a) Let 0ab. Which number is larger?...Ch. 4.3 - Prob. 4QCh. 4.3 - Assume that the random variable Z is described by...Ch. 4.3 - Prob. 6QCh. 4.3 - Prob. 7QCh. 4.3 - Hertz Brothers, a small, family-owned radio...Ch. 4.3 - Prob. 9QCh. 4.3 - State Techs basketball team, the Fighting...Ch. 4.3 - A random sample of 747 obituaries published...Ch. 4.3 - Prob. 12QCh. 4.3 - If pX(k)=(10k)(0.7)k(0.3)10k,k=0,1,10, is it...Ch. 4.3 - A sell-out crowd of 42,200 is expected at...Ch. 4.3 - A fair coin is tossed two hundred times. Let Xi=1...Ch. 4.3 - Suppose that one hundred fair dice are tossed....Ch. 4.3 - Let X be the amount won or lost in betting $5 on...Ch. 4.3 - Prob. 18QCh. 4.3 - An electronics firm receives, on the average,...Ch. 4.3 - Prob. 20QCh. 4.3 - Econo-Tire is planning an advertising campaign for...Ch. 4.3 - A large computer chip manufacturing plant under...Ch. 4.3 - Prob. 23QCh. 4.3 - Prob. 24QCh. 4.3 - A criminologist has developed a questionnaire for...Ch. 4.3 - The cross-sectional area of plastic tubing for use...Ch. 4.3 - At State University, the average score of the...Ch. 4.3 - A college professor teaches Chemistry 101 each...Ch. 4.3 - Suppose the random variable Y can be described by...Ch. 4.3 - It is estimated that 80% of all eighteen-year-old...Ch. 4.3 - Prob. 31QCh. 4.3 - Prob. 32QCh. 4.3 - The IQs of nine randomly selected people are...Ch. 4.3 - Let Y1,Y2,...,Yn be a random sample from a normal...Ch. 4.3 - A circuit contains three resistors wired in...Ch. 4.3 - Prob. 36QCh. 4.3 - Use moment-generating functions to prove the two...Ch. 4.3 - Let Y1,Y2,...,Y9 be a random sample of size 9 from...Ch. 4.3 - Prob. 39QCh. 4.4 - Because of her past convictions for mail fraud and...Ch. 4.4 - A teenager is trying to get a drivers license....Ch. 4.4 - Prob. 3QCh. 4.4 - Recently married, a young couple plans to continue...Ch. 4.4 - Show that the cdf for a geometric random variable...Ch. 4.4 - Suppose three fair dice are tossed repeatedly. Let...Ch. 4.4 - Prob. 7QCh. 4.4 - Sometimes the geometric random variable is defined...Ch. 4.4 - Prob. 9QCh. 4.4 - Suppose that the random variables X1 and X2 have...Ch. 4.5 - A door-to-door encyclopedia salesperson is...Ch. 4.5 - An underground military installation is fortified...Ch. 4.5 - Darryls statistics homework last night was to flip...Ch. 4.5 - When a machine is improperly adjusted, it has...Ch. 4.5 - For a negative binomial random variable whose pdf...Ch. 4.5 - Let the random variable X denote the number of...Ch. 4.5 - Calculate the mean, variance, and...Ch. 4.5 - Let X1,X2, and X3 be three independent negative...Ch. 4.5 - Differentiate the moment-generating function...Ch. 4.5 - Suppose that X1,X2,...,Xk are independent negative...Ch. 4.6 - An Arctic weather station has three electronic...Ch. 4.6 - A service contact on a new university computer...Ch. 4.6 - Suppose a set of measurements Y1,Y2,...,Y100 is...Ch. 4.6 - Demonstrate that plays the role of a scale...Ch. 4.6 - Show that a gamma pdf has the unique mode r1; that...Ch. 4.6 - Prove that (12)=. (Hint: Consider E(Z2)), where Z...Ch. 4.6 - Show that (72)=158.Ch. 4.6 - If the random variable Y has the gamma pdf with...Ch. 4.6 - Differentiate the gamma moment-generating function...Ch. 4.6 - Prob. 10Q
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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.arrow_forwardYou are provided with data that includes all 50 states of the United States. Your task is to draw a sample of: o 20 States using Random Sampling (2 points: 1 for random number generation; 1 for random sample) o 10 States using Systematic Sampling (4 points: 1 for random numbers generation; 1 for random sample different from the previous answer; 1 for correct K value calculation table; 1 for correct sample drawn by using systematic sampling) (For systematic sampling, do not use the original data directly. Instead, first randomize the data, and then use the randomized dataset to draw your sample. Furthermore, do not use the random list previously generated, instead, generate a new random sample for this part. For more details, please see the snapshot provided at the end.) Upload a Microsoft Excel file with two separate sheets. One sheet provides random sampling while the other provides systematic sampling. Excel snapshots that can help you in organizing columns are provided on the next…arrow_forwardThe population mean and standard deviation are given below. Find the required probability and determine whether the given sample mean would be considered unusual. For a sample of n = 65, find the probability of a sample mean being greater than 225 if μ = 224 and σ = 3.5. For a sample of n = 65, the probability of a sample mean being greater than 225 if μ=224 and σ = 3.5 is 0.0102 (Round to four decimal places as needed.)arrow_forward
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