ELEMENTARY STAT.USING EXCEL-MYSTATLAB
7th Edition
ISBN: 9780136961970
Author: Triola
Publisher: PEARSON
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Chapter 5.2, Problem 24BSC
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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.
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
ELEMENTARY STAT.USING EXCEL-MYSTATLAB
Ch. 5.1 - Prob. 1BSCCh. 5.1 - 2. Discrete or Continuous? Is the random variable...Ch. 5.1 - 3. Probability Distribution For the accompanying...Ch. 5.1 - Prob. 4BSCCh. 5.1 - Prob. 5BSCCh. 5.1 - Prob. 6BSCCh. 5.1 - Prob. 7BSCCh. 5.1 - Prob. 8BSCCh. 5.1 - Prob. 9BSCCh. 5.1 - Prob. 10BSC
Ch. 5.1 - Prob. 11BSCCh. 5.1 - Prob. 12BSCCh. 5.1 - Prob. 13BSCCh. 5.1 - Prob. 14BSCCh. 5.1 - Prob. 15BSCCh. 5.1 - Prob. 16BSCCh. 5.1 - Prob. 17BSCCh. 5.1 - Prob. 18BSCCh. 5.1 - Prob. 19BSCCh. 5.1 - Prob. 20BSCCh. 5.1 - Prob. 21BSCCh. 5.1 - Prob. 22BSCCh. 5.1 - Prob. 23BSCCh. 5.1 - Prob. 24BSCCh. 5.1 - Prob. 25BSCCh. 5.1 - Prob. 26BSCCh. 5.1 - Prob. 27BSCCh. 5.1 - Prob. 28BSCCh. 5.1 - Prob. 29BBCh. 5.1 - Prob. 30BBCh. 5.1 - Prob. 31BBCh. 5.1 - Prob. 32BBCh. 5.2 - Prob. 1BSCCh. 5.2 - Prob. 2BSCCh. 5.2 - Prob. 3BSCCh. 5.2 - Prob. 4BSCCh. 5.2 - Prob. 5BSCCh. 5.2 - Prob. 6BSCCh. 5.2 - Prob. 7BSCCh. 5.2 - Prob. 8BSCCh. 5.2 - Prob. 9BSCCh. 5.2 - Prob. 10BSCCh. 5.2 - Prob. 11BSCCh. 5.2 - Prob. 12BSCCh. 5.2 - Prob. 13BSCCh. 5.2 - Prob. 14BSCCh. 5.2 - Prob. 15BSCCh. 5.2 - Prob. 16BSCCh. 5.2 - Prob. 17BSCCh. 5.2 - Prob. 18BSCCh. 5.2 - Prob. 19BSCCh. 5.2 - Prob. 20BSCCh. 5.2 - Prob. 21BSCCh. 5.2 - Prob. 22BSCCh. 5.2 - Prob. 23BSCCh. 5.2 - Prob. 24BSCCh. 5.2 - 25. Whitus v. Georgia In the classic legal case of...Ch. 5.2 - Prob. 26BSCCh. 5.2 - Prob. 27BSCCh. 5.2 - Prob. 28BSCCh. 5.2 - Prob. 29BSCCh. 5.2 - Prob. 30BSCCh. 5.2 - Prob. 31BSCCh. 5.2 - Prob. 32BSCCh. 5.2 - Prob. 33BSCCh. 5.2 - Prob. 34BSCCh. 5.2 - Prob. 35BSCCh. 5.2 - Prob. 36BSCCh. 5.2 - Prob. 38BSCCh. 5.2 - Prob. 39BSCCh. 5.2 - Prob. 40BSCCh. 5.2 - Prob. 41BBCh. 5.2 - Prob. 42BBCh. 5.2 - Prob. 43BBCh. 5.3 - Prob. 1BSCCh. 5.3 - Prob. 2BSCCh. 5.3 - Prob. 3BSCCh. 5.3 - Prob. 4BSCCh. 5.3 - Prob. 5BSCCh. 5.3 - Prob. 6BSCCh. 5.3 - Prob. 7BSCCh. 5.3 - Prob. 8BSCCh. 5.3 - Prob. 9BSCCh. 5.3 - Prob. 10BSCCh. 5.3 - 11. Radioactive Decay Radioactive atoms are...Ch. 5.3 - 12. Deaths from Horse Kicks A classical example of...Ch. 5.3 - 13. World War II Bombs In Exercise 1“Notation” we...Ch. 5.3 - Prob. 14BSCCh. 5.3 - Prob. 17BBCh. 5 - Prob. 1CQQCh. 5 - Prob. 2CQQCh. 5 - Prob. 3CQQCh. 5 - Prob. 4CQQCh. 5 - Prob. 5CQQCh. 5 - Prob. 6CQQCh. 5 - Prob. 7CQQCh. 5 - Prob. 8CQQCh. 5 - Prob. 9CQQCh. 5 - Prob. 10CQQCh. 5 - Prob. 1RECh. 5 - Prob. 2RECh. 5 - Prob. 3RECh. 5 - Prob. 4RECh. 5 - Prob. 5RECh. 5 - Prob. 6RECh. 5 - Prob. 7RECh. 5 - Prob. 8RECh. 5 - Prob. 9RECh. 5 - Prob. 10RECh. 5 - 1. Planets The planets of the solar system have...Ch. 5 - Prob. 2CRECh. 5 - Prob. 3CRECh. 5 - Prob. 4CRECh. 5 - Prob. 5CRECh. 5 - Prob. 6CRECh. 5 - Prob. 7CRECh. 5 - Prob. 8CRECh. 5 - Prob. 1EPCh. 5 - Prob. 1FDD
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