Mathematical Applications for the Management, Life, and Social Sciences
11th Edition
ISBN: 9781305108042
Author: Ronald J. Harshbarger, James J. Reynolds
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Videos
Question
Chapter 5.2, Problem 5E
To determine
To calculate: The value of x by writing the equation
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
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.
Answer questions 8.1.13 and 8.2.10 respectively
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…
Chapter 5 Solutions
Mathematical Applications for the Management, Life, and Social Sciences
Ch. 5.1 - 1. Can any value of x give a negative value for y...Ch. 5.1 - 2. If , what asymptote does the graph of ...Ch. 5.1 - Prob. 3CPCh. 5.1 - Prob. 4CPCh. 5.1 - Prob. 5CPCh. 5.1 - Prob. 6CPCh. 5.1 - Prob. 1ECh. 5.1 - Prob. 2ECh. 5.1 - Prob. 3ECh. 5.1 - Prob. 4E
Ch. 5.1 - Prob. 5ECh. 5.1 - Prob. 6ECh. 5.1 - Prob. 7ECh. 5.1 - Prob. 8ECh. 5.1 - Prob. 9ECh. 5.1 - Prob. 10ECh. 5.1 - Prob. 11ECh. 5.1 - Prob. 12ECh. 5.1 - Prob. 13ECh. 5.1 - Prob. 14ECh. 5.1 - Prob. 15ECh. 5.1 - Prob. 16ECh. 5.1 - Prob. 17ECh. 5.1 - Prob. 18ECh. 5.1 - 23. (a) Graph .
(b) Graph .
(c) Algebraically show...Ch. 5.1 - Prob. 20ECh. 5.1 - 25. Given that , write an equivalent equation in...Ch. 5.1 - 26. Given that , write an equivalent equation in...Ch. 5.1 - Prob. 23ECh. 5.1 - Prob. 24ECh. 5.1 - Prob. 25ECh. 5.1 - Prob. 26ECh. 5.1 - Prob. 27ECh. 5.1 - Prob. 28ECh. 5.1 - 33. Compound interest If $1000 is invested for x...Ch. 5.1 - 35. Compound interest We will show in the next...Ch. 5.1 - 36. Compound interest If $1000 is invested for x...Ch. 5.1 - 37. Drug in the bloodstream The percent...Ch. 5.1 - Bacterial growth A single bacterium splits into...Ch. 5.1 - 39. Product reliability A statistical study shows...Ch. 5.1 - Prob. 35ECh. 5.1 - Prob. 36ECh. 5.1 - Prob. 38ECh. 5.1 - 46. Advertising and sales Suppose that sales are...Ch. 5.1 - 47. Modeling Carbon dioxide emissions The...Ch. 5.1 - 53. Modeling Alzheimer’s disease As the baby...Ch. 5.2 - 1. What asymptote does the graph of approach when...Ch. 5.2 - 2. For , does the equation represent the same...Ch. 5.2 - Prob. 3CPCh. 5.2 - Prob. 4CPCh. 5.2 - 5. Simplify:
(a) (b) (c) (d) log 1
Ch. 5.2 - Prob. 6CPCh. 5.2 - In Problems 1-4, use the definition of a...Ch. 5.2 - Prob. 2ECh. 5.2 - Prob. 3ECh. 5.2 - Prob. 4ECh. 5.2 - Prob. 5ECh. 5.2 - Prob. 6ECh. 5.2 - Prob. 7ECh. 5.2 - Prob. 8ECh. 5.2 - Prob. 9ECh. 5.2 - Prob. 10ECh. 5.2 - Prob. 11ECh. 5.2 - Prob. 12ECh. 5.2 - In Problems 5-14, solve for x by writing the...Ch. 5.2 - In Problems 5-14, solve for x by writing the...Ch. 5.2 - Prob. 15ECh. 5.2 - Prob. 16ECh. 5.2 - Prob. 17ECh. 5.2 - Prob. 18ECh. 5.2 - Prob. 19ECh. 5.2 - In Problems 19 and 20, write the equation in...Ch. 5.2 - Prob. 21ECh. 5.2 - Prob. 22ECh. 5.2 - Prob. 23ECh. 5.2 - Prob. 24ECh. 5.2 - Prob. 25ECh. 5.2 - Prob. 26ECh. 5.2 - Prob. 27ECh. 5.2 - Prob. 28ECh. 5.2 - Prob. 29ECh. 5.2 - Prob. 30ECh. 5.2 - Prob. 31ECh. 5.2 - In Problems 27 and 28, use properties of...Ch. 5.2 - Prob. 33ECh. 5.2 - Prob. 34ECh. 5.2 - In Problems 35 and 36, evaluate each logarithm...Ch. 5.2 - In Problems 35 and 36, evaluate each logarithm...Ch. 5.2 - Write each expression in Problems 37-40 as the sum...Ch. 5.2 - Prob. 38ECh. 5.2 - Prob. 39ECh. 5.2 - Write each expression in Problems 37-40 as the sum...Ch. 5.2 - Prob. 41ECh. 5.2 - Prob. 42ECh. 5.2 - Prob. 43ECh. 5.2 - Prob. 44ECh. 5.2 - Prob. 45ECh. 5.2 - Prob. 46ECh. 5.2 - Prob. 47ECh. 5.2 - In Problems 45-48, use a calculator to determine...Ch. 5.2 - Prob. 49ECh. 5.2 - Prob. 50ECh. 5.2 - Prob. 51ECh. 5.2 - Prob. 52ECh. 5.2 - Prob. 53ECh. 5.2 - Prob. 54ECh. 5.2 - Prob. 55ECh. 5.2 - Prob. 56ECh. 5.2 - Prob. 57ECh. 5.2 - Prob. 58ECh. 5.2 - Richter scale Use the formula in Problems 59-62....Ch. 5.2 - Richter scale Use the formula in Problems 59-62....Ch. 5.2 - Prob. 61ECh. 5.2 - Richter scale Use the formula in Problems 59-62....Ch. 5.2 - Prob. 63ECh. 5.2 - Prob. 65ECh. 5.2 - Prob. 66ECh. 5.2 - Prob. 67ECh. 5.2 - Prob. 68ECh. 5.2 - Prob. 69ECh. 5.2 - Prob. 70ECh. 5.2 - Doubling time In Problems 71 and 72, use the...Ch. 5.2 - Prob. 72ECh. 5.2 - 73. Women in the workforce For selected years from...Ch. 5.2 - 75. Modeling Diabetes As the following table...Ch. 5.2 - Prob. 76ECh. 5.2 - 78. Modeling Demographics The table below gives...Ch. 5.3 - 1. Suppose the sales of a product, in dollars, are...Ch. 5.3 - 2. Suppose the monthly demand for a product is...Ch. 5.3 - 3. Suppose the number of employees at a new...Ch. 5.3 - Prob. 1ECh. 5.3 - Prob. 2ECh. 5.3 - In Problems 1-22, solve each equation. Give...Ch. 5.3 - In Problems 1-22, solve each equation. Give...Ch. 5.3 - Prob. 5ECh. 5.3 - Prob. 6ECh. 5.3 - Prob. 7ECh. 5.3 - Prob. 8ECh. 5.3 - In Problems 1-22, solve each equation. Give...Ch. 5.3 - Prob. 10ECh. 5.3 - Prob. 11ECh. 5.3 - Prob. 12ECh. 5.3 - Prob. 13ECh. 5.3 - Prob. 14ECh. 5.3 - Prob. 15ECh. 5.3 - Prob. 16ECh. 5.3 - Prob. 17ECh. 5.3 - Prob. 18ECh. 5.3 - Prob. 19ECh. 5.3 - Prob. 20ECh. 5.3 - Prob. 21ECh. 5.3 - Prob. 22ECh. 5.3 - Prob. 23ECh. 5.3 - Prob. 24ECh. 5.3 - 25. Sales decay The sales decay for a product is...Ch. 5.3 - 26. Sales decay The sales of a product decline...Ch. 5.3 - 27. Inflation The purchasing power P (in dollars)...Ch. 5.3 - 28. Product reliability A statistical study shows...Ch. 5.3 - 29. Radioactive half-life An initial amount of 100...Ch. 5.3 - 30. Radioactive half-life A breeder reactor...Ch. 5.3 - 31. Population growth If the population of a...Ch. 5.3 - 32. Population growth The population of a certain...Ch. 5.3 - 35. Demand The demand function for a certain...Ch. 5.3 - 36. Demand The demand function for a product is...Ch. 5.3 - 37. Supply If the supply function for a product is...Ch. 5.3 - Prob. 38ECh. 5.3 - 39. Total cost The total cost function for x units...Ch. 5.3 - Prob. 40ECh. 5.3 - Prob. 41ECh. 5.3 - Prob. 42ECh. 5.3 - 43. Compound interest If $8500 is invested at...Ch. 5.3 - 44. Compound interest If $1000 is invested at 10%...Ch. 5.3 - 45. Compound interest If $5000 is invested at 9%...Ch. 5.3 - Prob. 46ECh. 5.3 - Profits An investment services company experienced...Ch. 5.3 - Profits An investment services company experienced...Ch. 5.3 - Prob. 49ECh. 5.3 - Prob. 50ECh. 5.3 - 51. Supply Suppose the supply of x units of a...Ch. 5.3 - 52. Demand Assume that the demand function for a...Ch. 5.3 - 53. Sales growth The president of a company...Ch. 5.3 - Prob. 54ECh. 5.3 - 55. Organizational growth Suppose that the...Ch. 5.3 - Prob. 56ECh. 5.3 - Prob. 57ECh. 5.3 - 58. Population growth Suppose that the number y of...Ch. 5.3 - 59. Spread of disease On a college campus of...Ch. 5.3 - 60. Spread of a rumor The number of people N(t) in...Ch. 5.3 - 61. Market share Suppose that the market share y...Ch. 5.3 - 62. Advertising An advertising agency has found...Ch. 5.3 - 63. Pollution Pollution levels in a lake have been...Ch. 5.3 - 64. Fish length Suppose that the length x (in...Ch. 5.3 - Prob. 65ECh. 5.3 - Prob. 66ECh. 5.3 - 67. Modeling Diabetes The following table gives...Ch. 5 - 1. Write each statement in logarithmic form.
Ch. 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 - Prob. 11RECh. 5 - Prob. 12RECh. 5 - In Problems 13-20, evaluate each logarithm without...Ch. 5 - Prob. 14RECh. 5 - Prob. 15RECh. 5 - In Problems 13-20, evaluate each logarithm without...Ch. 5 - In Problems 13-20, evaluate each logarithm without...Ch. 5 - Prob. 18RECh. 5 - Prob. 19RECh. 5 - Prob. 20RECh. 5 - Prob. 21RECh. 5 - Prob. 22RECh. 5 - In Problems 21-24, if , find each of the following...Ch. 5 - In Problems 21-24, if , find each of the following...Ch. 5 - Prob. 25RECh. 5 - Prob. 26RECh. 5 - 27. Is it true that ln for all positive values of...Ch. 5 - Prob. 28RECh. 5 - Prob. 29RECh. 5 - Prob. 30RECh. 5 - 31. If
Ch. 5 - Prob. 32RECh. 5 - Prob. 33RECh. 5 - Prob. 34RECh. 5 - Prob. 35RECh. 5 - Prob. 36RECh. 5 - In Problems 36-42, solve each equation.
37.
Ch. 5 - Prob. 38RECh. 5 - In Problems 36-42, solve each equation.
39.
Ch. 5 - In Problems 36-42, solve each equation.
40.
Ch. 5 - Prob. 41RECh. 5 - In Problems 36-42, solve each equation.
42.
Ch. 5 - Prob. 43RECh. 5 - Prob. 45RECh. 5 - Prob. 46RECh. 5 - Prob. 48RECh. 5 - Prob. 49RECh. 5 - 50. Sales decay The sales decay for a product is...Ch. 5 - Prob. 51RECh. 5 - 54. Compound interest If $1000 is invested at 12%,...Ch. 5 - 55. Compound interest If $5000 is invested at...Ch. 5 - Prob. 54RECh. 5 - Prob. 55RECh. 5 - Prob. 56RECh. 5 - Prob. 1TCh. 5 - Prob. 2TCh. 5 - Prob. 3TCh. 5 - Prob. 4TCh. 5 - Prob. 5TCh. 5 - Prob. 6TCh. 5 - Prob. 7TCh. 5 - Prob. 8TCh. 5 - Prob. 9TCh. 5 - Prob. 10TCh. 5 - Prob. 11TCh. 5 - Prob. 12TCh. 5 - Prob. 13TCh. 5 - Prob. 14TCh. 5 - Prob. 15TCh. 5 - Prob. 16TCh. 5 - Prob. 17TCh. 5 - Prob. 18TCh. 5 - Prob. 19TCh. 5 - Prob. 20TCh. 5 - Prob. 21TCh. 5 - Prob. 22TCh. 5 - Prob. 23TCh. 5 - Prob. 24TCh. 5 - Prob. 25TCh. 5 - Prob. 26TCh. 5 - 27. The total national health expenditures per...Ch. 5 - 28. A company plans to phase out one model of its...Ch. 5 - Prob. 30T
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- Answer questions 8.2.6, 8.2.7 and 8.2.9 respectivelyarrow_forwardTo 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…arrow_forwardAnswer questions 8.1.10, 8.1.11and 8.1.12 respectivelyarrow_forward
- 7.2.10 Researchers in the Hopkins Forest also count the number of maple trees (genus acer) in plots throughout the forest. The following is a histogram of the number of live maples in 1002 plots sampled over the past 20 years. The average number of maples per plot was 19.86 trees with a standard deviation of 23.65 trees. a. If we took the mean of a sample of eight plots, what would be the standard error of the mean? b. Using the central limit theorem, what is the probability that the mean of the eight would be within 1 standard error of the mean? c. Why might you think that the probability that you calculated in (b) might not be very accurate? 2. A normal population has mean 100 and variance 25. How large must the random sample be if you want the standard error of the sample average to be 1.5?arrow_forwardAnswer questions 7.3.10 and 7.3.12 respectively 7.3.12. Suppose that two independent random samples (of size n1 and n2) from two normal distributions are available. Explain how you would estimate the standard error of the difference in sample means X1 − X2 with the bootstrap method.arrow_forwardAnswer questions 7.4.6 and 7.4.7 respectivelyarrow_forward
- Write an equation for the function shown. You may assume all intercepts and asymptotes are on integers. The blue dashed lines are the asymptotes. 10 9- 8- 7 6 5 4- 3- 2 4 5 15-14-13-12-11-10 -9 -8 -7 -6 -5 -4 -3 -2 1 1 2 3 -1 -2 -3 -4 1 -5 -6- -7 -8- -9 -10+ 60 7 8 9 10 11 12 13 14 15arrow_forwardK The mean height of women in a country (ages 20-29) is 63.7 inches. A random sample of 65 women in this age group is selected. What is the probability that the mean height for the sample is greater than 64 inches? Assume σ = 2.68. The probability that the mean height for the sample is greater than 64 inches is (Round to four decimal places as needed.)arrow_forwardAnswer questions 8.1.4, 8.1.5 and 8.1.6 respectivelyarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Intermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning
Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning
Intermediate Algebra
Algebra
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Cengage Learning
Algebra for College Students
Algebra
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Cengage Learning
Implicit Differentiation with Transcendental Functions; Author: Mathispower4u;https://www.youtube.com/watch?v=16WoO59R88w;License: Standard YouTube License, CC-BY
How to determine the difference between an algebraic and transcendental expression; Author: Study Force;https://www.youtube.com/watch?v=xRht10w7ZOE;License: Standard YouTube License, CC-BY