STATS:DATA+MODELS(LL)-W/ACCESS>CUSTOM<
21st Edition
ISBN: 9780137643219
Author: DeVeaux
Publisher: PEARSON
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Chapter 5, Problem 52E
a.
To determine
Find the IQ represents the 15th percentile.
b.
To determine
Find the IQ represents the 98th percentile.
c.
To determine
Find the IQR of the IQs.
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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 5 Solutions
STATS:DATA+MODELS(LL)-W/ACCESS>CUSTOM<
Ch. 5.1 - 1. Your statistics teacher has announced that the...Ch. 5.1 - Prob. 2JCCh. 5.2 - Prob. 3JCCh. 5.2 - 4. A company manufactures wheels for in-line...Ch. 5.3 - 5. As a group, the Dutch are among the tallest...Ch. 5.3 - Prob. 6JCCh. 5.3 - Prob. 7JCCh. 5.3 - 8. Our original sample of 100 commute times had a...Ch. 5 - Prob. 1ECh. 5 - 2. Mensa People with z-scores above 2.5 on an IQ...
Ch. 5 - 3. Temperatures A town’s January high temperatures...Ch. 5 - 4. Placement exams An incoming freshman took her...Ch. 5 - 5. Shipments A company selling clothing on the...Ch. 5 - 6. Hotline A company’s customer service hotline...Ch. 5 - Prob. 7ECh. 5 - 8. Women’s shoe sizes The shoe size data for women...Ch. 5 - 9. Guzzlers? Environmental Protection Agency (EPA)...Ch. 5 - 10. IQ Some IQ tests are standardized to a Normal...Ch. 5 - Prob. 11ECh. 5 - 12. Stats test Suppose your statistics professor...Ch. 5 - 13. Normal cattle The Virginia Cooperative...Ch. 5 - 14. IQs revisited Based on the Normal model N(100,...Ch. 5 - Prob. 15ECh. 5 - Prob. 16ECh. 5 - Prob. 17ECh. 5 - Prob. 18ECh. 5 - 19. Payroll Here are the summary statistics for...Ch. 5 - 20. Hams A specialty foods company sells “gourmet...Ch. 5 - 21. SAT or ACT? Each year thousands of high school...Ch. 5 - 22. Cold U? A high school senior uses the Internet...Ch. 5 - 23. Music library again Corey has 4929 songs in...Ch. 5 - 24. Windy In the last chapter, we looked at three...Ch. 5 - 25. Combining test scores The first Stats exam had...Ch. 5 - 26. Combining scores again The first Stat exam had...Ch. 5 - 27. Final exams Anna, a language major, took final...Ch. 5 - 28. MP3s Two companies market new batteries...Ch. 5 - Prob. 29ECh. 5 - 30. Car speeds 100 John Beale of Stanford,...Ch. 5 - Prob. 31ECh. 5 - Prob. 32ECh. 5 - Prob. 33ECh. 5 - Prob. 34ECh. 5 - Prob. 35ECh. 5 - Prob. 36ECh. 5 - Prob. 37ECh. 5 - 38. High IQ Exercise 10 proposes modeling IQ...Ch. 5 - 39. Trees A forester measured 27 of the trees in a...Ch. 5 - 40. Rivets A company that manufactures rivets...Ch. 5 - Prob. 41ECh. 5 - Prob. 42ECh. 5 - Prob. 43ECh. 5 - Prob. 44ECh. 5 - 45. Receivers 2015 NFL data from the 2015 football...Ch. 5 - 46. Customer database A large philanthropic...Ch. 5 - Prob. 47ECh. 5 - Prob. 48ECh. 5 - Prob. 49ECh. 5 - 50. More IQs In the Normal model N(100, 15) from...Ch. 5 - Prob. 51ECh. 5 - 52. IQ, finis Consider the IQ model N(100, 15) one...Ch. 5 - Prob. 53ECh. 5 - 54. Tires A tire manufacturer believes that the...Ch. 5 - 55. Kindergarten Companies that design furniture...Ch. 5 - 56. Body temperatures Most people think that the...Ch. 5 - Prob. 57ECh. 5 - Prob. 58E
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