LIND 18E STATISTICAL TECHNIQUES IN BUSIN
18th Edition
ISBN: 9781264307746
Author: Lind
Publisher: McGraw Hil
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Chapter 6, Problem 71DA
a.
To determine
Compute the
b.
To determine
Compute the probability that there are two home runs in a game.
c.
To determine
Compute the probability that there are at least four home runs in a game.
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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.
Chapter 6 Solutions
LIND 18E STATISTICAL TECHNIQUES IN BUSIN
Ch. 6 - The possible outcomes of an experiment involving...Ch. 6 - The Pizza Palace offers three sizes of cola. The...Ch. 6 - FILE Compute the mean and variance of the...Ch. 6 - FILE Compute the mean and variance of the...Ch. 6 - FILE Compute the mean and variance of the...Ch. 6 - Which of these variables are discrete and which...Ch. 6 - FILE The information below is the number of daily...Ch. 6 - FILE The director of admissions at Kinzua...Ch. 6 - Prob. 7ECh. 6 - Prob. 8E
Ch. 6 - Ninety-five percent of the employees at the J. M....Ch. 6 - In a binomial situation, n = 4 and = .25....Ch. 6 - Prob. 10ECh. 6 - Prob. 11ECh. 6 - Assume a binomial distribution where n = 5 and =...Ch. 6 - An American Society of Investors survey found 30%...Ch. 6 - Prob. 14ECh. 6 - Prob. 15ECh. 6 - FILE A telemarketer makes six phone calls per hour...Ch. 6 - Prob. 17ECh. 6 - Prob. 18ECh. 6 - Prob. 4SRCh. 6 - Prob. 19ECh. 6 - In a binomial distribution, n = 12 and = .60....Ch. 6 - FILE In a recent study, 90% of the homes in the...Ch. 6 - FILE A manufacturer of window frames knows from...Ch. 6 - Prob. 23ECh. 6 - Prob. 24ECh. 6 - Prob. 5SRCh. 6 - Prob. 25ECh. 6 - A population consists of 15 items, 10 of which are...Ch. 6 - Prob. 27ECh. 6 - Prob. 28ECh. 6 - Prob. 29ECh. 6 - Prob. 30ECh. 6 - Prob. 6SRCh. 6 - Prob. 31ECh. 6 - Prob. 32ECh. 6 - Prob. 33ECh. 6 - Automobiles arrive at the Elkhart exit of the...Ch. 6 - It is estimated that 0.5% of the callers to the...Ch. 6 - Prob. 36ECh. 6 - Prob. 37CECh. 6 - For each of the following indicate whether the...Ch. 6 - Prob. 39CECh. 6 - Prob. 40CECh. 6 - Prob. 41CECh. 6 - The payouts for the Powerball lottery and their...Ch. 6 - In a recent study, 35% of people surveyed...Ch. 6 - Prob. 44CECh. 6 - An auditor for Health Maintenance Services of...Ch. 6 - Prob. 46CECh. 6 - Prob. 47CECh. 6 - The Bank of Hawaii reports that 7% of its credit...Ch. 6 - Prob. 49CECh. 6 - Prob. 50CECh. 6 - Prob. 51CECh. 6 - Prob. 52CECh. 6 - Prob. 53CECh. 6 - Prob. 54CECh. 6 - Prob. 55CECh. 6 - Prob. 56CECh. 6 - Prob. 57CECh. 6 - Prob. 58CECh. 6 - Prob. 59CECh. 6 - Prob. 60CECh. 6 - Prob. 61CECh. 6 - Prob. 62CECh. 6 - Prob. 63CECh. 6 - Prob. 64CECh. 6 - The National Aeronautics and Space Administration...Ch. 6 - Prob. 66CECh. 6 - Prob. 67CECh. 6 - Prob. 68CECh. 6 - Prob. 69CECh. 6 - Prob. 70DACh. 6 - Prob. 71DA
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