Elementary Statistics with Student Access Kit
12th Edition
ISBN: 9780321869470
Author: Mario F. Triola
Publisher: PEARSON
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Chapter 6.7, Problem 6BSC
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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.
In a group of 40 people, 35% have never been abroad. Two people are selected at random without replacement and are asked about their past travel experience. a. Is this a binomial experiment? Why or why not? What is the probability that in a random sample of 2, no one has been abroad? b. What is the probability that in a random sample of 2, at least one has been abroad?
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
Elementary Statistics with Student Access Kit
Ch. 6.2 - Normal Distribution When we refer to a normal...Ch. 6.2 - Normal Distribution A normal distribution is...Ch. 6.2 - Standard Normal Distribution Identify the...Ch. 6.2 - Notation What does the notation Z indicate?Ch. 6.2 - Continuous Uniform Distribution. In Exercises 58,...Ch. 6.2 - Continuous Uniform Distribution. In Exercises 58,...Ch. 6.2 - Continuous Uniform Distribution. In Exercises 58,...Ch. 6.2 - Continuous Uniform Distribution. In Exercises 58,...Ch. 6.2 - Prob. 9BSCCh. 6.2 - Standard Normal Distribution. In Exercises 912,...
Ch. 6.2 - Prob. 11BSCCh. 6.2 - Prob. 12BSCCh. 6.2 - Prob. 13BSCCh. 6.2 - Prob. 14BSCCh. 6.2 - Prob. 15BSCCh. 6.2 - Prob. 16BSCCh. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Prob. 26BSCCh. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Prob. 28BSCCh. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 1736,...Ch. 6.2 - Standard Normal Distribution. In Exercises 17-36,...Ch. 6.2 - Standard Normal Distribution. In Exercises 17-36,...Ch. 6.2 - Prob. 35BSCCh. 6.2 - Prob. 36BSCCh. 6.2 - Finding Bone Density Scores. In Exercises 37-40...Ch. 6.2 - Finding Bone Density Scores. In Exercises 37-40...Ch. 6.2 - Prob. 39BSCCh. 6.2 - Finding Bone Density Scores. In Exercises 37-40...Ch. 6.2 - Finding Critical Values. In Exercises 41-44, find...Ch. 6.2 - Prob. 42BSCCh. 6.2 - Prob. 43BSCCh. 6.2 - Prob. 44BSCCh. 6.2 - Prob. 45BSCCh. 6.2 - Prob. 46BSCCh. 6.2 - Prob. 47BSCCh. 6.2 - Prob. 48BSCCh. 6.2 - Prob. 49BBCh. 6.2 - Distributions In a continuous uniform...Ch. 6.3 - Pulse Rates Pulse rates of women are normally...Ch. 6.3 - IQ Scores The Wechsler Adult Intelligence Scale is...Ch. 6.3 - Prob. 3BSCCh. 6.3 - Random Digits Computers are commonly used to...Ch. 6.3 - IQ Scores. In Exercises 5-8, find the area of the...Ch. 6.3 - Prob. 6BSCCh. 6.3 - Prob. 7BSCCh. 6.3 - Prob. 8BSCCh. 6.3 - Prob. 9BSCCh. 6.3 - Prob. 10BSCCh. 6.3 - Prob. 11BSCCh. 6.3 - Prob. 12BSCCh. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - IQ Scores. In Exercises 13-20, assume that adults...Ch. 6.3 - In Exercises 21-24, use these parameters (based on...Ch. 6.3 - In Exercises 21-24, use these parameters (based on...Ch. 6.3 - Prob. 23BSCCh. 6.3 - In Exercises 21-24, use these parameters (based on...Ch. 6.3 - Water Taxi Safety When a water taxi sank in...Ch. 6.3 - Prob. 26BSCCh. 6.3 - Prob. 27BSCCh. 6.3 - Prob. 28BSCCh. 6.3 - Prob. 29BSCCh. 6.3 - Aircraft Seat Width Engineers want to design seats...Ch. 6.3 - Chocolate Chip Cookies The Chapter Problem for...Ch. 6.3 - Quarters After 1964, quarters were manufactured so...Ch. 6.3 - Large Data Sets. In Exercises 33 and 34, refer to...Ch. 6.3 - Prob. 34BSCCh. 6.3 - Curving Test Scores A statistics professor gives a...Ch. 6.3 - Using Continuity Correction There are many...Ch. 6.3 - Prob. 37BBCh. 6.3 - SAT and ACT Tests Based on recent results, scores...Ch. 6.4 - Minting Quarters In a recent year, the U.S. Mint...Ch. 6.4 - Sampling with Replacement In a recent year, the...Ch. 6.4 - Unbiased Estimators Data Set 1 in Appendix B...Ch. 6.4 - Prob. 4BSCCh. 6.4 - Prob. 5BSCCh. 6.4 - Prob. 6BSCCh. 6.4 - Prob. 7BSCCh. 6.4 - In Exercises 710, use the same population of {4,...Ch. 6.4 - In Exercises 710, use the same population of {4,...Ch. 6.4 - Prob. 10BSCCh. 6.4 - In Exercises 1114, use the population of ages {56,...Ch. 6.4 - In Exercises 1114, use the population of ages {56,...Ch. 6.4 - In Exercises 1114, use the population of ages {56,...Ch. 6.4 - Prob. 14BSCCh. 6.4 - Births: Sampling Distribution of Sample Proportion...Ch. 6.4 - Births: Sampling Distribution of Sample Proportion...Ch. 6.4 - SAT and ACT Tests Because they enable efficient...Ch. 6.4 - Quality Control After constructing a new...Ch. 6.4 - Prob. 19BBCh. 6.4 - Prob. 20BBCh. 6.5 - Standard Error of the Mean The population of...Ch. 6.5 - Small Sample Heights of adult females are normally...Ch. 6.5 - Notation The population of distances that adult...Ch. 6.5 - Prob. 4BSCCh. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Using the Central Limit Theorem. In Exercises 510,...Ch. 6.5 - Prob. 11BSCCh. 6.5 - Prob. 12BSCCh. 6.5 - Designing Hats Women have head circumferences that...Ch. 6.5 - Designing Manholes According to the website...Ch. 6.5 - Prob. 15BSCCh. 6.5 - Loading MM Packages MM plain candies have a mean...Ch. 6.5 - Prob. 17BSCCh. 6.5 - Pulse Rates of Women Women have pulse rates that...Ch. 6.5 - Redesign of Ejection Seats When women were allowed...Ch. 6.5 - Loading a Tour Boat The Ethan Allen tour boat...Ch. 6.5 - Doorway Height The Boeing 757-200 ER airliner...Ch. 6.5 - Loading Aircraft Before every flight, the pilot...Ch. 6.5 - Prob. 23BBCh. 6.5 - Population Parameters Use the same population of...Ch. 6.6 - Normal Quantile Plot Data Set 1 in Appendix B...Ch. 6.6 - Prob. 2BSCCh. 6.6 - Prob. 3BSCCh. 6.6 - Prob. 4BSCCh. 6.6 - Prob. 5BSCCh. 6.6 - Interpreting Normal Quantile Plots. In Exercises...Ch. 6.6 - Prob. 7BSCCh. 6.6 - Interpreting Normal Quantile Plots. In Exercises...Ch. 6.6 - Prob. 9BSCCh. 6.6 - Determining Normality. In Exercises 912, refer to...Ch. 6.6 - Determining Normality. In Exercises 912, refer to...Ch. 6.6 - Prob. 12BSCCh. 6.6 - Prob. 13BSCCh. 6.6 - Prob. 14BSCCh. 6.6 - Using Technology to Generate Normal Quantile...Ch. 6.6 - Prob. 16BSCCh. 6.6 - Prob. 17BSCCh. 6.6 - Constructing Normal Quantile Plots. In Exercises...Ch. 6.6 - Prob. 19BSCCh. 6.6 - Prob. 20BSCCh. 6.6 - Transformations The heights (in inches) of men...Ch. 6.6 - Earthquake Magnitudes Richter scale earthquake...Ch. 6.6 - Prob. 23BBCh. 6.7 - Exact Value and Approximation Refer to Figure 6-21...Ch. 6.7 - Continuity Correction In a preliminary test of the...Ch. 6.7 - Prob. 3BSCCh. 6.7 - Prob. 4BSCCh. 6.7 - Prob. 5BSCCh. 6.7 - Prob. 6BSCCh. 6.7 - Prob. 7BSCCh. 6.7 - Prob. 8BSCCh. 6.7 - Prob. 9BSCCh. 6.7 - Prob. 10BSCCh. 6.7 - Voters. In Exercises 912, use a normal...Ch. 6.7 - Prob. 12BSCCh. 6.7 - Prob. 13BSCCh. 6.7 - Prob. 14BSCCh. 6.7 - Mendelian Genetics When Mendel conducted his...Ch. 6.7 - Prob. 16BSCCh. 6.7 - XSORT Gender Selection MicroSorts XSORT...Ch. 6.7 - Prob. 18BSCCh. 6.7 - Prob. 19BSCCh. 6.7 - Cell Phones and Brain Cancer In a study of 420,095...Ch. 6.7 - Prob. 21BSCCh. 6.7 - Prob. 22BSCCh. 6.7 - Prob. 23BSCCh. 6.7 - Prob. 24BSCCh. 6.7 - Decision Theory Marc Taylor plans to place 200...Ch. 6.7 - Prob. 26BBCh. 6 - Identify the values of and for the standard...Ch. 6 - Bone Density Test. In Exercises 1-4, assume that...Ch. 6 - Prob. 3CQQCh. 6 - Prob. 4CQQCh. 6 - Prob. 5CQQCh. 6 - Prob. 6CQQCh. 6 - In Exercises 6-10, assume that red blood cell...Ch. 6 - Prob. 8CQQCh. 6 - Prob. 9CQQCh. 6 - Prob. 10CQQCh. 6 - Prob. 1RECh. 6 - Prob. 2RECh. 6 - Window Placement Standing eye heights of men are...Ch. 6 - Sampling Distributions Scores on the ACT test have...Ch. 6 - Prob. 5RECh. 6 - Monorail and Airliner Doors The Mark VI monorail...Ch. 6 - Aircraft Safety Standards Under older Federal...Ch. 6 - Assessing Normality Listed below are the current...Ch. 6 - Prob. 9RECh. 6 - Prob. 10RECh. 6 - Miami Heat The following are current annual...Ch. 6 - Prob. 2CRECh. 6 - Birth Weights Birth weights in the United States...Ch. 6 - POTUS The accompanying graph is a histogram of...Ch. 6 - Left-Handedness According to data from the...Ch. 6 - Binomial Probabilities Section 6-7 described a...Ch. 6 - Prob. 1FDDCh. 6 - Prob. 2FDDCh. 6 - Prob. 3FDDCh. 6 - Critical Thinking: Designing aircraft seats When...Ch. 6 - Critical Thinking: Designing aircraft seats When...Ch. 6 - Critical Thinking: Designing aircraft seats When...
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