Intro Stats
4th Edition
ISBN: 9780321826275
Author: Richard D. De Veaux
Publisher: PEARSON
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Chapter 7, Problem 59E
a.
To determine
Obtain a
b.
To determine
Describe the association between age and price of a used Corollas.
c.
To determine
Find whether a linear model is appropriate for the data or not.
d.
To determine
Find the
e.
To determine
Interpret the meaning of
f.
To determine
Explain why the model does not explain 100% variability in the price of a used Corolla.
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Let X represent the full height of a certain species of tree. Assume that X has a normal probability distribution with mean 203.8 ft and standard deviation 43.8 ft.
You intend to measure a random sample of n = 211trees. The bell curve below represents the distribution of these sample means. The scale on the horizontal axis (each tick mark) is one standard error of the sampling distribution. Complete the indicated boxes, correct to two decimal places.
Image attached. I filled in the yellow boxes and am not sure why they are wrong. There are 3 yellow boxes filled in with values 206.82; 209.84; 212.86.
Could you please answer this question using excel.Thanks
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 7 Solutions
Intro Stats
Ch. 7.4 - A scatterplot of house Price (in dollars) vs....Ch. 7.4 - A scatterplot of house Price (in dollars) vs....Ch. 7.4 - A scatterplot of house Price (in dollars) vs....Ch. 7.4 - A scatterplot of house Price (in dollars) vs....Ch. 7.4 - A scatterplot of house Price (in dollars) vs....Ch. 7.4 - Prob. 6JCCh. 7.6 - Prob. 7JCCh. 7.6 - Prob. 8JCCh. 7.6 - Prob. 9JCCh. 7 - True or false If false, explain briefly. a) We...
Ch. 7 - True or false II If false, explain briefly. a)...Ch. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Bookstore sales revisited Recall the data we saw...Ch. 7 - Prob. 6ECh. 7 - Prob. 7ECh. 7 - Prob. 8ECh. 7 - Bookstore sales once more Here are the residuals...Ch. 7 - Prob. 10ECh. 7 - Prob. 11ECh. 7 - Prob. 12ECh. 7 - Prob. 13ECh. 7 - 14. Disk drives last time Here is a scatterplot of...Ch. 7 - Prob. 15ECh. 7 - Prob. 16ECh. 7 - More cereal Exercise 15 describes a regression...Ch. 7 - Prob. 18ECh. 7 - Another bowl In Exercise 15, the regression model...Ch. 7 - Prob. 20ECh. 7 - Cereal again The correlation between a cereals...Ch. 7 - Prob. 22ECh. 7 - Prob. 23ECh. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Residuals Tell what each of the residual plots...Ch. 7 - Real estate A random sample of records of home...Ch. 7 - 30. Roller coaster The Mitch Hawker poll ranked...Ch. 7 - Prob. 31ECh. 7 - Prob. 32ECh. 7 - Real estate again The regression of Price on Size...Ch. 7 - Prob. 34ECh. 7 - Prob. 35ECh. 7 - More misinterpretations A Sociology student...Ch. 7 - Real estate redux The regression of Price on Size...Ch. 7 - 38. Another ride The regression of Duration of a...Ch. 7 - Prob. 39ECh. 7 - Prob. 40ECh. 7 - Prob. 41ECh. 7 - Prob. 42ECh. 7 - Prob. 43ECh. 7 - Prob. 44ECh. 7 - Prob. 45ECh. 7 - 46. Second inning 2010 Consider again the...Ch. 7 - Prob. 47ECh. 7 - Prob. 48ECh. 7 - Prob. 49ECh. 7 - Prob. 50ECh. 7 - Online clothes An online clothing retailer keeps...Ch. 7 - Online clothes II For the online clothing retailer...Ch. 7 - Prob. 53ECh. 7 - Success in college Colleges use SAT scores in the...Ch. 7 - SAT, take 2 Suppose we wanted to use SAT math...Ch. 7 - Prob. 56ECh. 7 - Prob. 57ECh. 7 - Prob. 58ECh. 7 - Prob. 59ECh. 7 - Drug abuse revisited Chapter 6, Exercise 42...Ch. 7 - Prob. 61ECh. 7 - Prob. 62ECh. 7 - Prob. 63ECh. 7 - 64. Chicken Chicken sandwiches are often...Ch. 7 - Prob. 65ECh. 7 - Prob. 66ECh. 7 - Prob. 67ECh. 7 - Prob. 68ECh. 7 - Prob. 69ECh. 7 - 70. Birthrates 2009 The table shows the number of...Ch. 7 - Prob. 71ECh. 7 - Prob. 72ECh. 7 - Prob. 73ECh. 7 - Prob. 74ECh. 7 - Hard water In an investigation of environmental...Ch. 7 - 76. Gators Wildlife researchers monitor many...Ch. 7 - Prob. 77ECh. 7 - Least squares Consider the four points (200,1950),...
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