EBK MATHEMATICS FOR THE TRADES
11th Edition
ISBN: 8220106960455
Author: CARMAN
Publisher: PEARSON
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Chapter 6.3, Problem 36AE
To determine
To find: The value of the given expression
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PEER REPLY 1:
Choose a classmate's Main Post and review their decision making process.
1. Choose a risk level for each of the states of nature (assign a probability
value to each).
2. Explain why each risk level is chosen.
3. Which alternative do you believe would be the best based on the maximum
EMV?
4. Do you feel determining the expected value with perfect information
(EVWPI) is worthwhile in this situation? Why or why not?
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
EBK MATHEMATICS FOR THE TRADES
Ch. 6.1 - If it is 13 below zero and the temperature rises...Ch. 6.1 - Prob. 2LCCh. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...
Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - A. Make each statement true by replacing the ...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - Make each statement true by replacing the symbol...Ch. 6.1 - For each problem, make a separate number line and...Ch. 6.1 - For each problem, make a separate number line and...Ch. 6.1 - For each problem, make a separate number line and...Ch. 6.1 - For each problem, make a separate number line and...Ch. 6.1 - Prob. 1CECh. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Prob. 5CECh. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Prob. 7CECh. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Prob. 9CECh. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Represent each of the following situations with a...Ch. 6.1 - Prob. 12CECh. 6.1 - Prob. 13CECh. 6.1 - C. Represent each of the following situations with...Ch. 6.1 - Prob. 1DECh. 6.1 - Add. 2. 11 + 7Ch. 6.1 - Prob. 3DECh. 6.1 - Prob. 4DECh. 6.1 - Prob. 5DECh. 6.1 - Prob. 6DECh. 6.1 - Prob. 7DECh. 6.1 - Add. 8. 23 + (28)Ch. 6.1 - Prob. 9DECh. 6.1 - Add. 10. 12 + 19Ch. 6.1 - Prob. 11DECh. 6.1 - Prob. 12DECh. 6.1 - Prob. 13DECh. 6.1 - Add. 14. 56 + 29Ch. 6.1 - Prob. 15DECh. 6.1 - Prob. 16DECh. 6.1 - Prob. 17DECh. 6.1 - Prob. 18DECh. 6.1 - Prob. 19DECh. 6.1 - Add. 20. 5.7 + (7.9)Ch. 6.1 - Prob. 21DECh. 6.1 - Prob. 22DECh. 6.1 - Prob. 23DECh. 6.1 - Prob. 24DECh. 6.1 - Prob. 25DECh. 6.1 - Add. 26. 414+634Ch. 6.1 - Add. 27. 912+(412)Ch. 6.1 - Prob. 28DECh. 6.1 - Prob. 29DECh. 6.1 - Prob. 30DECh. 6.1 - Prob. 31DECh. 6.1 - Add. 32. 13310+(845)Ch. 6.1 - Prob. 33DECh. 6.1 - Prob. 34DECh. 6.1 - Prob. 35DECh. 6.1 - Prob. 36DECh. 6.1 - Prob. 37DECh. 6.1 - Add. 38. 11 + (6) + (5)Ch. 6.1 - Prob. 39DECh. 6.1 - Prob. 40DECh. 6.1 - Add. 41. 36 + 45 + 27 + (18)Ch. 6.1 - Prob. 42DECh. 6.1 - Prob. 43DECh. 6.1 - Add. 44. 1+3+(5)+7+(9)+11+(13)+(15)+(17)+19Ch. 6.1 - Prob. 45DECh. 6.1 - Prob. 46DECh. 6.1 - Prob. 47DECh. 6.1 - Prob. 48DECh. 6.1 - Prob. 49DECh. 6.1 - Add. 50. (0.0475)+(0.0875)+(0.0255)Ch. 6.1 - Prob. 1EECh. 6.1 - Practical Applications 2. Sports and Leisure...Ch. 6.1 - Prob. 3EECh. 6.1 - Prob. 4EECh. 6.1 - Practical Applications 5. Business and Finance A...Ch. 6.1 - Prob. 6EECh. 6.1 - Practical Applications 7. Electronics What is the...Ch. 6.1 - Practical Applications 8. Electrical Trades As...Ch. 6.2 - Prob. 1LCCh. 6.2 - Prob. 2LCCh. 6.2 - Prob. 1AECh. 6.2 - Find the value of the following. 2. 7 20Ch. 6.2 - Prob. 3AECh. 6.2 - Prob. 4AECh. 6.2 - Prob. 5AECh. 6.2 - Prob. 6AECh. 6.2 - Prob. 7AECh. 6.2 - Find the value of the following. 8. 22 ( 10)Ch. 6.2 - Prob. 9AECh. 6.2 - Prob. 10AECh. 6.2 - Find the value of the following. 11. 5 ( 16)Ch. 6.2 - Prob. 12AECh. 6.2 - Prob. 13AECh. 6.2 - Find the value of the following. 14. 30 65Ch. 6.2 - Prob. 15AECh. 6.2 - Prob. 16AECh. 6.2 - Prob. 17AECh. 6.2 - Prob. 18AECh. 6.2 - Prob. 19AECh. 6.2 - Find the value of the following. 20. 70 25Ch. 6.2 - Prob. 21AECh. 6.2 - Prob. 22AECh. 6.2 - Prob. 23AECh. 6.2 - Prob. 24AECh. 6.2 - Prob. 25AECh. 6.2 - Find the value of the following. 26. 55 0Ch. 6.2 - Prob. 27AECh. 6.2 - Prob. 28AECh. 6.2 - Prob. 29AECh. 6.2 - Prob. 30AECh. 6.2 - Prob. 31AECh. 6.2 - Find the value of the following. 32. 17 44Ch. 6.2 - Prob. 33AECh. 6.2 - Prob. 34AECh. 6.2 - Prob. 35AECh. 6.2 - Prob. 36AECh. 6.2 - Prob. 37AECh. 6.2 - Find the value of the following. 38. 5 12 + (13) ...Ch. 6.2 - Prob. 39AECh. 6.2 - Find the value of the following. 31. 22 89 32. 17...Ch. 6.2 - Prob. 41AECh. 6.2 - Prob. 42AECh. 6.2 - Prob. 43AECh. 6.2 - Find the value of the following. 44. 212(314)Ch. 6.2 - Prob. 45AECh. 6.2 - Prob. 46AECh. 6.2 - Prob. 47AECh. 6.2 - Prob. 48AECh. 6.2 - Prob. 49AECh. 6.2 - Find the value of the following. 50. (0.275) ...Ch. 6.2 - Prob. 51AECh. 6.2 - Prob. 52AECh. 6.2 - Prob. 53AECh. 6.2 - Prob. 54AECh. 6.2 - Prob. 55AECh. 6.2 - Find the value of the following. 56. (5.8)(818)3.9Ch. 6.2 - Prob. 1BECh. 6.2 - Practical Applications 2. Meteorology The highest...Ch. 6.2 - Prob. 3BECh. 6.2 - Prob. 4BECh. 6.2 - Prob. 5BECh. 6.2 - Prob. 6BECh. 6.2 - Prob. 7BECh. 6.2 - Practical Applications 8. Meteorology The fastest...Ch. 6.2 - Prob. 9BECh. 6.2 - Prob. 10BECh. 6.2 - Prob. 11BECh. 6.2 - Prob. 12BECh. 6.2 - Prob. 13BECh. 6.2 - Practical Applications 14. Meteorology The hottest...Ch. 6.2 - Prob. 15BECh. 6.3 - Prob. 1LCCh. 6.3 - Prob. 2LCCh. 6.3 - Prob. 1AECh. 6.3 - Multiply or divide as indicated. 2. 8 (5)Ch. 6.3 - Prob. 3AECh. 6.3 - Prob. 4AECh. 6.3 - Prob. 5AECh. 6.3 - Prob. 6AECh. 6.3 - Prob. 7AECh. 6.3 - Multiply or divide as indicated. 8. (44)(11)Ch. 6.3 - Multiply or divide as indicated. 9. (3.4)(1.5)Ch. 6.3 - Prob. 10AECh. 6.3 - Prob. 11AECh. 6.3 - Prob. 12AECh. 6.3 - Prob. 13AECh. 6.3 - Multiply or divide as indicated. 14. (10.8)(1.2)Ch. 6.3 - Prob. 15AECh. 6.3 - Prob. 16AECh. 6.3 - Prob. 17AECh. 6.3 - Prob. 18AECh. 6.3 - Prob. 19AECh. 6.3 - Multiply or divide as indicated. 20. (13)(4)Ch. 6.3 - Prob. 21AECh. 6.3 - Prob. 22AECh. 6.3 - Prob. 23AECh. 6.3 - Prob. 24AECh. 6.3 - Prob. 25AECh. 6.3 - Multiply or divide as indicated. 26. (200)(10)Ch. 6.3 - Prob. 27AECh. 6.3 - Prob. 28AECh. 6.3 - Prob. 29AECh. 6.3 - Prob. 30AECh. 6.3 - Prob. 31AECh. 6.3 - Multiply or divide as indicated. 32. (2.25)0.15Ch. 6.3 - Prob. 33AECh. 6.3 - Prob. 34AECh. 6.3 - Prob. 35AECh. 6.3 - Prob. 36AECh. 6.3 - Prob. 37AECh. 6.3 - Multiply or divide as indicated. 38. (8)4(7)Ch. 6.3 - Prob. 39AECh. 6.3 - Prob. 40AECh. 6.3 - Prob. 41AECh. 6.3 - Prob. 42AECh. 6.3 - Prob. 1BECh. 6.3 - Multiply or divide using a calculator and round as...Ch. 6.3 - Prob. 3BECh. 6.3 - Prob. 4BECh. 6.3 - Prob. 5BECh. 6.3 - Prob. 6BECh. 6.3 - Prob. 7BECh. 6.3 - Multiply or divide using a calculator and round as...Ch. 6.3 - Prob. 9BECh. 6.3 - Prob. 10BECh. 6.3 - Prob. 11BECh. 6.3 - Multiply or divide using a calculator and round as...Ch. 6.3 - Prob. 1CECh. 6.3 - Practical Applications 2. Business and Finance In...Ch. 6.3 - Practical Applications 3. Industrial Technology...Ch. 6.3 - Practical Applications 4. Machine Trades A long...Ch. 6.3 - Prob. 5CECh. 6.3 - Prob. 6CECh. 6.4 - What number, multiplied by itself, gives you a...Ch. 6.4 - Prob. 2LCCh. 6.4 - Prob. 1AECh. 6.4 - Find the value of these. 2. 32Ch. 6.4 - Prob. 3AECh. 6.4 - Prob. 4AECh. 6.4 - Prob. 5AECh. 6.4 - Prob. 6AECh. 6.4 - Prob. 7AECh. 6.4 - Find the value of these. 8. 62Ch. 6.4 - Prob. 9AECh. 6.4 - Prob. 10AECh. 6.4 - Prob. 11AECh. 6.4 - Prob. 12AECh. 6.4 - Prob. 13AECh. 6.4 - Find the value of these. 14. (3)5Ch. 6.4 - Prob. 15AECh. 6.4 - Prob. 16AECh. 6.4 - Find the value of these. 17. 51Ch. 6.4 - Prob. 18AECh. 6.4 - Prob. 19AECh. 6.4 - Find the value of these. 20. 82Ch. 6.4 - Prob. 21AECh. 6.4 - Prob. 22AECh. 6.4 - Prob. 23AECh. 6.4 - Prob. 24AECh. 6.4 - Prob. 25AECh. 6.4 - Find the value of these. 26. 2632Ch. 6.4 - Prob. 27AECh. 6.4 - Prob. 28AECh. 6.4 - Prob. 29AECh. 6.4 - Prob. 30AECh. 6.4 - Prob. 31AECh. 6.4 - Find the value of these. 32. 1423Ch. 6.4 - Prob. 33AECh. 6.4 - Prob. 34AECh. 6.4 - Prob. 35AECh. 6.4 - Prob. 36AECh. 6.4 - Prob. 37AECh. 6.4 - Find the value of these. 38. 6442+18Ch. 6.4 - Prob. 39AECh. 6.4 - Prob. 40AECh. 6.4 - Find the value of these. 41. 26+402332Ch. 6.4 - Prob. 42AECh. 6.4 - Prob. 1BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 3BECh. 6.4 - Prob. 4BECh. 6.4 - Prob. 5BECh. 6.4 - Prob. 6BECh. 6.4 - Prob. 7BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 9BECh. 6.4 - Prob. 10BECh. 6.4 - Prob. 11BECh. 6.4 - Prob. 12BECh. 6.4 - Prob. 13BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 16BECh. 6.4 - Prob. 17BECh. 6.4 - Prob. 18BECh. 6.4 - Prob. 19BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 21BECh. 6.4 - Prob. 22BECh. 6.4 - Prob. 23BECh. 6.4 - Prob. 24BECh. 6.4 - Prob. 25BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 27BECh. 6.4 - Prob. 28BECh. 6.4 - Prob. 29BECh. 6.4 - Prob. 30BECh. 6.4 - Prob. 31BECh. 6.4 - Calculate. Round to two decimal places if...Ch. 6.4 - Prob. 33BECh. 6.4 - Prob. 34BECh. 6.4 - Prob. 35BECh. 6.4 - Prob. 36BECh. 6.4 - Prob. 37BECh. 6.4 - Prob. 38BECh. 6.4 - Prob. 1CECh. 6.4 - Construction A square building covers an area of...Ch. 6.4 - Mechanical Engineering The following calculation...Ch. 6.4 - Prob. 4CECh. 6.4 - Prob. 5CECh. 6.4 - Prob. 6CECh. 6.4 - Prob. 7CECh. 6.4 - Roofing The length L of a rafter on a shed roof is...Ch. 6.4 - Prob. 9CECh. 6.4 - Prob. 10CECh. 6.4 - Prob. 11CECh. 6.4 - Electrical Trades The electrical resistance of a...Ch. 6.4 - Prob. 13CECh. 6 - Understand the meaning of signed numbers. (a)...Ch. 6 - Add signed numbers. (a) (3)+(5) _____ (b)...Ch. 6 - Subtract signed numbers. (a) 47 _____ (b) 11(3)...Ch. 6 - Multiply and divide signed numbers. (a) (12)6...Ch. 6 - Work with exponents. (a) 43 _____ (b) (2.05)2...Ch. 6 - Use the order of operations. (a) 2+32 _____ (b)...Ch. 6 - Find square roots. (a) 169 _____ (b) 14.5 (to two...Ch. 6 - A. Rewrite each group of numbers in order from...Ch. 6 - A. Rewrite each group of numbers in order from...Ch. 6 - A. Rewrite each group of numbers in order from...Ch. 6 - A. Rewrite each group of numbers in order from...Ch. 6 - Add or subtract as indicated. 1. 16+6Ch. 6 - Prob. 2BPSCh. 6 - Add or subtract as indicated. 3. 7 13Ch. 6 - Prob. 4BPSCh. 6 - Add or subtract as indicated. 5. 23 + (38)Ch. 6 - Prob. 6BPSCh. 6 - B. Add or subtract as indicated. 20 (5)Ch. 6 - Add or subtract as indicated. 8. 11 + (3)Ch. 6 - Add or subtract as indicated. 9. 2.6 + 4.9Ch. 6 - Prob. 10BPSCh. 6 - B. Add or subtract as indicated. 5.26 3.89Ch. 6 - Prob. 12BPSCh. 6 - B. Add or subtract as indicated. 9 6 + 4 + (13) ...Ch. 6 - B. Add or subtract as indicated. 12.4 + 612 (134)...Ch. 6 - Multiply or divide as indicated. 1. 6(10)Ch. 6 - Prob. 2CPSCh. 6 - Multiply or divide as indicated. 3. 48(4)Ch. 6 - Prob. 4CPSCh. 6 - Multiply or divide as indicated. 5. (118)(614)Ch. 6 - Prob. 6CPSCh. 6 - Multiply or divide as indicated. 7. 6.4(16)Ch. 6 - Prob. 8CPSCh. 6 - Multiply or divide as indicated. 9. (4) (5) (6)Ch. 6 - Multiply or divide as indicated. 10. 72(4)(3)Ch. 6 - Multiply or divide as indicated. 11. (2.4735) ...Ch. 6 - Prob. 12CPSCh. 6 - Find the numerical value of each expression. 12.5 ...Ch. 6 - Prob. 2DPSCh. 6 - Find the numerical value of each expression....Ch. 6 - Prob. 4DPSCh. 6 - Find the numerical value of each expression. 5. 26Ch. 6 - Prob. 6DPSCh. 6 - Find the numerical value of each expression. 7....Ch. 6 - Prob. 8DPSCh. 6 - Find the numerical value of each expression. 9....Ch. 6 - Prob. 10DPSCh. 6 - Find the numerical value of each expression. 11....Ch. 6 - Prob. 12DPSCh. 6 - Find the numerical value of each expression. 13....Ch. 6 - Prob. 14DPSCh. 6 - Prob. 15DPSCh. 6 - Prob. 16DPSCh. 6 - Prob. 17DPSCh. 6 - Prob. 18DPSCh. 6 - Prob. 19DPSCh. 6 - Prob. 20DPSCh. 6 - Prob. 21DPSCh. 6 - Prob. 22DPSCh. 6 - Prob. 23DPSCh. 6 - Prob. 24DPSCh. 6 - Prob. 25DPSCh. 6 - Prob. 26DPSCh. 6 - Prob. 27DPSCh. 6 - Prob. 28DPSCh. 6 - Prob. 29DPSCh. 6 - Prob. 30DPSCh. 6 - Prob. 31DPSCh. 6 - Prob. 32DPSCh. 6 - Prob. 33DPSCh. 6 - Prob. 34DPSCh. 6 - Prob. 35DPSCh. 6 - Prob. 36DPSCh. 6 - Prob. 37DPSCh. 6 - Prob. 38DPSCh. 6 - Prob. 39DPSCh. 6 - Prob. 40DPSCh. 6 - Prob. 41DPSCh. 6 - Prob. 42DPSCh. 6 - Prob. 43DPSCh. 6 - Prob. 44DPSCh. 6 - Prob. 45DPSCh. 6 - Prob. 46DPSCh. 6 - Prob. 1EPSCh. 6 - General Trades Find the side of a square whose...Ch. 6 - Prob. 3EPSCh. 6 - E. Practical Applications Trades Management Morgan...Ch. 6 - Prob. 5EPSCh. 6 - Fire Protection The flow rate (in gallons per...Ch. 6 - Prob. 7EPSCh. 6 - Trades Management An auto shop was 14,560 in the...Ch. 6 - Prob. 9EPSCh. 6 - Prob. 10EPSCh. 6 - Prob. 11EPSCh. 6 - Meteorology Use the formula F=9C5+32 to convert...Ch. 6 - Prob. 13EPSCh. 6 - Prob. 14EPSCh. 6 - Prob. 15EPSCh. 6 - Allied Health The following expression gives the...Ch. 6 - Prob. 17EPSCh. 6 - Prob. 18EPSCh. 6 - Prob. 19EPS
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