Elementary Statistics
12th Edition
ISBN: 9780321836960
Author: Mario F. Triola
Publisher: PEARSON
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Chapter 5, Problem 2RE
To determine
The probability that exactly four people have brown eyes.
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Let X represent the full height of a certain species of tree. Assume that X has a normal probability distribution with mean 203.8 ft and standard deviation 43.8 ft.
You intend to measure a random sample of n = 211trees. The bell curve below represents the distribution of these sample means. The scale on the horizontal axis (each tick mark) is one standard error of the sampling distribution. Complete the indicated boxes, correct to two decimal places.
Image attached. I filled in the yellow boxes and am not sure why they are wrong. There are 3 yellow boxes filled in with values 206.82; 209.84; 212.86.
Could you please answer this question using excel.Thanks
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.
Chapter 5 Solutions
Elementary Statistics
Ch. 5.2 - Random Variable Table 5-7 lists probabilities for...Ch. 5.2 - Discrete or Continuous? Is the random variable...Ch. 5.2 - Probability Distribution Does Table 5-7 describe a...Ch. 5.2 - Unusual For 200 births, the probability of exactly...Ch. 5.2 - Identifying Discrete and Continuous Random...Ch. 5.2 - Prob. 6BSCCh. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Identifying Probability Distributions. In...
Ch. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Happiness In a survey sponsored by Coca-Cola,...Ch. 5.2 - Identifying Probability Distributions. In...Ch. 5.2 - Genetics. In Exercises 15-18, refer to the...Ch. 5.2 - Genetics. In Exercises 15-18, refer to the...Ch. 5.2 - Genetics. In Exercises 15-18, refer to the...Ch. 5.2 - Genetics. In Exercises 15-18, refer to the...Ch. 5.2 - Car Failures. In Exercises 19-22, refer to the...Ch. 5.2 - Car Failures. In Exercises 19-22, refer to the...Ch. 5.2 - Car Failures. In Exercises 19-22, refer to the...Ch. 5.2 - Prob. 22BSCCh. 5.2 - Expected Value for the Texas Pick 3 Game In the...Ch. 5.2 - Expected Value in Maines Pick 4 Game In Maines...Ch. 5.2 - Prob. 25BBCh. 5.2 - Expected Value for Deal or No Deal The television...Ch. 5.3 - Calculating Probabilities Based on a Saint Index...Ch. 5.3 - Consistent Notation If we use the binomial...Ch. 5.3 - Prob. 3BSCCh. 5.3 - Notation of 0+ Using the same survey from Exercise...Ch. 5.3 - Identifying Binomial Distributions. In Exercises...Ch. 5.3 - Identifying Binomial Distributions. In Exercises...Ch. 5.3 - Veggie Survey In an Idaho Potato Commission survey...Ch. 5.3 - Veggie Survey In an Idaho Potato Commission survey...Ch. 5.3 - Surveying Senators The current Senate consists of...Ch. 5.3 - Identifying Binomial Distributions. In Exercises...Ch. 5.3 - Prob. 11BSCCh. 5.3 - Prob. 12BSCCh. 5.3 - Binomial Probability Formula. In Exercises 13 and...Ch. 5.3 - Prob. 14BSCCh. 5.3 - Using the Binomial Probability Table. In Exercises...Ch. 5.3 - Prob. 16BSCCh. 5.3 - Using the Binomial Probability Table. In Exercises...Ch. 5.3 - Prob. 18BSCCh. 5.3 - Prob. 19BSCCh. 5.3 - Using the Binomial Probability Table. In Exercises...Ch. 5.3 - Prob. 21BSCCh. 5.3 - Prob. 22BSCCh. 5.3 - Prob. 23BSCCh. 5.3 - Prob. 24BSCCh. 5.3 - Using Computer Results. In Exercises 2528, refer...Ch. 5.3 - Prob. 26BSCCh. 5.3 - Prob. 27BSCCh. 5.3 - Using Computer Results. In Exercises 2528, refer...Ch. 5.3 - See You Later Based on a Harris Interactive poll,...Ch. 5.3 - Live TV Based on a Comcast survey, there is a 0.8...Ch. 5.3 - Too Young to Tat Based on a Harris poll, among...Ch. 5.3 - Tainted Currency Based on the American Chemical...Ch. 5.3 - Prob. 33BSCCh. 5.3 - Prob. 34BSCCh. 5.3 - On-Time Flights The U.S. Department of...Ch. 5.3 - Prob. 36BSCCh. 5.3 - Nielsen Rating CBS televised a recent Super Bowl...Ch. 5.3 - Overbooking Flights When someone buys a ticket for...Ch. 5.3 - XSORT Method of Gender Selection When testing a...Ch. 5.3 - Prob. 40BSCCh. 5.3 - Prob. 41BSCCh. 5.3 - Prob. 42BSCCh. 5.3 - Acceptance Sampling. Exercises 35 and 36 involve...Ch. 5.3 - Prob. 44BSCCh. 5.3 - Prob. 46BBCh. 5.3 - Prob. 47BBCh. 5.4 - Prob. 1BSCCh. 5.4 - Prob. 2BSCCh. 5.4 - Prob. 3BSCCh. 5.4 - Prob. 4BSCCh. 5.4 - Finding , , and Unusual Values. In Exercises 58,...Ch. 5.4 - Prob. 6BSCCh. 5.4 - Prob. 7BSCCh. 5.4 - Prob. 8BSCCh. 5.4 - Prob. 9BSCCh. 5.4 - Prob. 10BSCCh. 5.4 - Are 20% of MM Candies Orange? Mars, Inc. claims...Ch. 5.4 - Are 14% of MM Candies Yellow? Mars, Inc. claims...Ch. 5.4 - Cell Phones and Brain Cancer In a study of 420,095...Ch. 5.4 - Prob. 14BSCCh. 5.4 - Prob. 15BSCCh. 5.4 - Prob. 16BSCCh. 5.4 - Prob. 17BSCCh. 5.4 - Prob. 18BSCCh. 5.4 - Born on the 4th of July For the following...Ch. 5.4 - Prob. 20BSCCh. 5.4 - Prob. 21BBCh. 5.4 - Prob. 23BBCh. 5.5 - Prob. 1BSCCh. 5.5 - Prob. 2BSCCh. 5.5 - Poission Approximation to Binomial Assume that we...Ch. 5.5 - Prob. 4BSCCh. 5.5 - Aircraft Accidents. In Exercises 58, assume that...Ch. 5.5 - Aircraft Accidents. In Exercises 58, assume that...Ch. 5.5 - Aircraft Accidents. In Exercises 58, assume that...Ch. 5.5 - Aircraft Accidents. In Exercises 58, assume that...Ch. 5.5 - In Exercises 916, use the Poisson distribution to...Ch. 5.5 - Prob. 10BSCCh. 5.5 - Prob. 11BSCCh. 5.5 - Deaths from Horse Kicks A classical example of the...Ch. 5.5 - World War II Bombs In Exercise 1 Notation we noted...Ch. 5.5 - Prob. 14BSCCh. 5.5 - Chocolate Chip Cookies In the production of...Ch. 5.5 - Chocolate Chip Cookies Consider an individual...Ch. 5.5 - Poisson Approximation to Binomial Distribution An...Ch. 5 - Is a probability distribution defined if the only...Ch. 5 - There are 100 questions from an SAT test, and they...Ch. 5 - Using the same SAT questions described in Exercise...Ch. 5 - Prob. 4CQQCh. 5 - If boys and girls are equally likely, groups of400...Ch. 5 - In Exercises 610, use the following: Five American...Ch. 5 - x p(x) 0 0+ 1 0.006 2 0.051 3 0.205 4 0.409 5...Ch. 5 - In Exercises 610, use the following: Five American...Ch. 5 - In Exercises 610, use the following: Five American...Ch. 5 - In Exercises 610, use the following: Five American...Ch. 5 - In Exercises 14, assume that 40% of the population...Ch. 5 - Prob. 2RECh. 5 - Prob. 3RECh. 5 - Brown Eyes When randomly selecting 600 people, the...Ch. 5 - In Exercises 5 and 6, refer to the table in die...Ch. 5 - In Exercises 5 and 6, refer to the table in die...Ch. 5 - Prob. 7RECh. 5 - Prob. 8RECh. 5 - Expected Value for a Magazine Sweepstakes Readers...Ch. 5 - Prob. 10RECh. 5 - Please be aware that some of the following...Ch. 5 - Ohio Pick 4 In Ohios Pick 4 game, you pay 1 to...Ch. 5 - Tennis Challenge In the last U.S. Open tennis...Ch. 5 - Prob. 4CRECh. 5 - Random Digits The digits 0, 1, 2,3,4, 5,6,7, 8,...Ch. 5 - Prob. 6CRECh. 5 - FROM DATA TO DECISION Critical Thinking: Did...
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