Statistical Reasoning for Everyday Life (5th Edition)
5th Edition
ISBN: 9780134494043
Author: Jeff Bennett, William L. Briggs, Mario F. Triola
Publisher: PEARSON
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Chapter 7.3, Problem 1E
Best-Fit Line. What is a best-fit line? How is a best-fit line useful?
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The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in
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455 679 499 496 378 68
157
58 200
17,942|29,215 43,338 30,221 67,266 67,461 22,066 11,190 30,707| 27,569
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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.
Use the accompanying Grade Point Averages data to find 80%,85%, and 99%confidence intervals for the mean GPA.
view the Grade Point Averages data.
Gender College GPAFemale Arts and Sciences 3.21Male Engineering 3.87Female Health Science 3.85Male Engineering 3.20Female Nursing 3.40Male Engineering 3.01Female Nursing 3.48Female Nursing 3.26Female Arts and Sciences 3.50Male Engineering 3.00Female Arts and Sciences 3.13Female Nursing 3.34Female Nursing 3.67Female Education 3.45Female Engineering 3.17Female Health Science 3.28Female Nursing 3.25Male Engineering 3.72Female Arts and Sciences 2.68Female Nursing 3.40Female Health Science 3.76Female Arts and Sciences 3.72Female Education 3.44Female Arts and Sciences 3.61Female Education 3.29Female Nursing 3.20Female Education 3.80Female Business 3.26Male…
Chapter 7 Solutions
Statistical Reasoning for Everyday Life (5th Edition)
Ch. 7.1 - Correlation. What is a correlation? Give three...Ch. 7.1 - Scatterplot. What is a scatterplot, and how is one...Ch. 7.1 - Types of Correlation. Define and distinguish...Ch. 7.1 - Correlation Coefficient. What does the correlation...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Does It Make Sense? For Exercises 58, determine...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...
Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Correlation. Exercises 916 list pairs of...Ch. 7.1 - Crickets and Temperature. One classic example of a...Ch. 7.1 - Two-Day Forecast. Figure 7.8 shows a scatterplot...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Properties of the Correlation Coefficient. For...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Prob. 26ECh. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Scatterplot and Correlation. In Exercises 2330,...Ch. 7.1 - Your Own Positive Correlations. Give examples of...Ch. 7.1 - Your Own Negative Correlations. Give examples of...Ch. 7.2 - Outliers. Briefly explain how an outlier can make...Ch. 7.2 - Grouped Data. Briefly explain how data that...Ch. 7.2 - Explanations for Correlation. What are the three...Ch. 7.2 - Prob. 4ECh. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Does It Make Sense? For Exercises 58, determine...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Correlation and Causality. Exercises 916 present...Ch. 7.2 - Outlier Effects. Consider the scatterplot in...Ch. 7.2 - Outlier Effects. Consider the scatterplot in...Ch. 7.2 - Footprint and Height. The following table lists...Ch. 7.2 - January and July High Temperatures. The following...Ch. 7.2 - Birth and Death Rates. Figure 7.17 shows the birth...Ch. 7.2 - Penny Weight and Date. The scatterplot in Figure...Ch. 7.3 - Best-Fit Line. What is a best-fit line? How is a...Ch. 7.3 - Prob. 2ECh. 7.3 - Interpreting r2. What does the square of the...Ch. 7.3 - Prob. 4ECh. 7.3 - Prob. 5ECh. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Does It Make Sense? For Exercises 58, determine...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Prob. 11ECh. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Best-Fit Lines. Exercises 916 refer to tables in...Ch. 7.3 - Prob. 15ECh. 7.3 - Prob. 16ECh. 7.4 - Correlation and Causality. What is the difference...Ch. 7.4 - Prob. 2ECh. 7.4 - Establishing Causality. Briefly state in your own...Ch. 7.4 - Confidence in Causality. Describe three levels of...Ch. 7.4 - Prob. 5ECh. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Does It Make Sense? For Exercises 58, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Physical Models. For Exercises 912, determine...Ch. 7.4 - Altitude and Health. When some people climb to...Ch. 7.4 - Smoking and Lung Cancer. There is a strong...Ch. 7.4 - Other Lung Cancer Causes. Several things besides...Ch. 7.4 - Longevity of Orchestra Conductors. A famous study...Ch. 7.4 - Older Moms. A study reported in Nature claims that...Ch. 7.4 - High-Voltage Power Lines. Suppose that people...Ch. 7.4 - Gun Control. Those who favor gun control often...Ch. 7.4 - Vasectomies and Prostate Cancer. The article Does...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - Pizza and the Subway. For Exercises 16, refer to...Ch. 7 - For 10 pairs of sample data values, the...Ch. 7 - In a study involving randomly selected subjects,...Ch. 7 - A researcher collects paired sample data values...Ch. 7 - Estimate the value of the linear correlation...Ch. 7 - Fill in the blanks: Every possible correlation...Ch. 7 - Which of the following are likely to have a...Ch. 7 - For a collection of 50 pairs of sample data...Ch. 7 - Estimate the correlation coefficient for the data...Ch. 7 - Refer again to the scatterplot in Figure 7.24....Ch. 7 - Fill in the blank: If r = 0.900, then _____ % of...Ch. 7 - In Exercises 710, determine whether the given...Ch. 7 - Prob. 8CQCh. 7 - Prob. 9CQCh. 7 - Prob. 10CQ
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