
Statistics: The Art and Science of Learning from Data (4th Edition)
4th Edition
ISBN: 9780321997838
Author: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 8, Problem 109CP
a.
To determine
Show that the smallest value of n is 30 when
b.
To determine
Show that the smallest value of n is 50 when
c.
To determine
Show that the smallest value of n is 150 when
Expert Solution & Answer

Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
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.
You are provided with data that includes all 50 states of the United States. Your task is to draw a sample of: o 20 States using Random Sampling (2 points: 1 for random number generation; 1 for random sample) o 10 States using Systematic Sampling (4 points: 1 for random numbers generation; 1 for random sample different from the previous answer; 1 for correct K value calculation table; 1 for correct sample drawn by using systematic sampling) (For systematic sampling, do not use the original data directly. Instead, first randomize the data, and then use the randomized dataset to draw your sample. Furthermore, do not use the random list previously generated, instead, generate a new random sample for this part. For more details, please see the snapshot provided at the end.) Upload a Microsoft Excel file with two separate sheets. One sheet provides random sampling while the other provides systematic sampling. Excel snapshots that can help you in organizing columns are provided on the next…
Chapter 8 Solutions
Statistics: The Art and Science of Learning from Data (4th Edition)
Ch. 8.1 - Health care A study dealing with health care...Ch. 8.1 - Video on demand A recent study from Nielsen...Ch. 8.1 - Projecting winning candidate News coverage during...Ch. 8.1 - Believe in hell? Using the General Social Survey...Ch. 8.1 - Government spying In 2014, news reports worldwide...Ch. 8.1 - Game apps The Google Play app store for...Ch. 8.1 - Nutrient effect on growth rate Researchers are...Ch. 8.1 - Believe in heaven? When a GSS asked 1326 subjects,...Ch. 8.1 - Feel lonely often? The GSS has asked On how many...Ch. 8.1 - CI for loneliness Refer to the previous exercise....
Ch. 8.2 - Putin A Gallup poll of 2000 Russians taken between...Ch. 8.2 - Flu shot In a clinical study (the same as...Ch. 8.2 - How green are you? When the 2000 GSS asked...Ch. 8.2 - Make industry help environment? When the 2006 GSS...Ch. 8.2 - Favor death penalty In the 2012 General Social...Ch. 8.2 - Oppose death penalty Refer to the previous...Ch. 8.2 - Stem cell research A Harris poll of a random...Ch. 8.2 - z-score and confidence level Which z-score is used...Ch. 8.2 - Believe in ghosts A Harris poll of a random sample...Ch. 8.2 - Stem cell research and religion In Exercise 8.18,...Ch. 8.2 - Fear of breast cancer A recent survey of 1000...Ch. 8.2 - Chicken breast In a 2014 Consumer Reports article...Ch. 8.2 - Same-sex marriage A national survey by the Pew...Ch. 8.2 - Exit poll predictions A national television...Ch. 8.2 - Exit poll with smaller sample In the previous...Ch. 8.2 - Simulating confidence intervals Repeat the...Ch. 8.2 - Simulating confidence intervals with poor coverage...Ch. 8.3 - Females ideal number of children The 2012 General...Ch. 8.3 - Males ideal number of children Refer to the...Ch. 8.3 - Using t-table Using Table B, the web app, software...Ch. 8.3 - Anorexia in teenage girls A study6 compared...Ch. 8.3 - Talk time on smartphones One feature smartphone...Ch. 8.3 - Heights of seedlings Exercise 8.7 reported heights...Ch. 8.3 - Buy it now Example 6 mentioned closing prices for...Ch. 8.3 - Time spent on e-mail When the GSS asked n = 1050...Ch. 8.3 - Grandmas using e-mail For the question about...Ch. 8.3 - Prob. 38PBCh. 8.3 - Prob. 39PBCh. 8.3 - Political views The General Social Survey asks...Ch. 8.3 - Prob. 41PBCh. 8.3 - Prob. 42PBCh. 8.3 - Effect of confidence level Find the margin of...Ch. 8.3 - Prob. 44PBCh. 8.3 - Number of children For the question, How many...Ch. 8.3 - Prob. 46PBCh. 8.4 - South Africa study The researcher planning the...Ch. 8.4 - Binge drinkers A study at the Harvard School of...Ch. 8.4 - Prob. 49PBCh. 8.4 - Prob. 50PBCh. 8.4 - Prob. 51PBCh. 8.4 - Farm size An estimate is needed of the mean...Ch. 8.4 - Prob. 53PBCh. 8.4 - Prob. 54PBCh. 8.4 - Prob. 55PBCh. 8.4 - Prob. 56PBCh. 8.4 - Prob. 57PBCh. 8.4 - Prob. 58PBCh. 8.5 - Why bootstrap? Explain the purpose of using the...Ch. 8.5 - Estimating variability Refer to Example 11 about...Ch. 8.5 - Bootstrap interval for the mean In 2014, the...Ch. 8.5 - Prob. 62PBCh. 8 - Unemployed college grads The U.S Bureau of the...Ch. 8 - Prob. 64CPCh. 8 - Prob. 65CPCh. 8 - Born again A poll of a random sample of n = 2000...Ch. 8 - Life after death The variable POSTLIFE in the 2012...Ch. 8 - Prob. 68CPCh. 8 - Prob. 69CPCh. 8 - Prob. 70CPCh. 8 - Prob. 71CPCh. 8 - Wife supporting husband Consider the statement...Ch. 8 - Legalize marijuana? The General Social Survey has...Ch. 8 - Prob. 74CPCh. 8 - Streaming A Harris Poll of 2300 U.S. adults...Ch. 8 - Prob. 76CPCh. 8 - Prob. 77CPCh. 8 - Grandpas using e-mail When the GSS asked in 2012,...Ch. 8 - Prob. 79CPCh. 8 - Prob. 80CPCh. 8 - Fuel efficiency The government website...Ch. 8 - Prob. 82CPCh. 8 - Prob. 83CPCh. 8 - Prob. 84CPCh. 8 - Prob. 85CPCh. 8 - Prob. 86CPCh. 8 - Prob. 87CPCh. 8 - Revisiting mountain bikes Use the Mountain Bike...Ch. 8 - Prob. 89CPCh. 8 - Prob. 90CPCh. 8 - Prob. 91CPCh. 8 - Prob. 92CPCh. 8 - Working mother In response to the statement on a...Ch. 8 - Miami spring break For a trip to Miami, Florida,...Ch. 8 - Prob. 95CPCh. 8 - Prob. 96CPCh. 8 - Prob. 97CPCh. 8 - Prob. 98CPCh. 8 - Prob. 99CPCh. 8 - Prob. 100CPCh. 8 - Kicking accuracy A football coach decides to...Ch. 8 - Prob. 103CPCh. 8 - Prob. 104CPCh. 8 - Prob. 106CPCh. 8 - Width of a confidence interval Why are confidence...Ch. 8 - Prob. 108CPCh. 8 - Prob. 109CPCh. 8 - Prob. 110CPCh. 8 - Prob. 111CPCh. 8 - Prob. 112CPCh. 8 - Prob. 113CPCh. 8 - Prob. 114CPCh. 8 - Prob. 115CPCh. 8 - Prob. 116CPCh. 8 - Prob. 117CPCh. 8 - Prob. 118CPCh. 8 - Prob. 119CPCh. 8 - Prob. 120CPCh. 8 - Prob. 121CPCh. 8 - Prob. 122CPCh. 8 - Prob. 123CPCh. 8 - Why called degrees of freedom? You know the sample...Ch. 8 - Prob. 125CPCh. 8 - Prob. 126CPCh. 8 - Median as point estimate When the population...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- The population mean and standard deviation are given below. Find the required probability and determine whether the given sample mean would be considered unusual. For a sample of n = 65, find the probability of a sample mean being greater than 225 if μ = 224 and σ = 3.5. For a sample of n = 65, the probability of a sample mean being greater than 225 if μ=224 and σ = 3.5 is 0.0102 (Round to four decimal places as needed.)arrow_forward***Please do not just simply copy and paste the other solution for this problem posted on bartleby as that solution does not have all of the parts completed for this problem. Please answer this I will leave a like on the problem. The data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharingarrow_forwardThe data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharingarrow_forward
- The following relates to Problems 4 and 5. Christchurch, New Zealand experienced a major earthquake on February 22, 2011. It destroyed 100,000 homes. Data were collected on a sample of 300 damaged homes. These data are saved in the file called CIEG315 Homework 4 data.xlsx, which is available on Canvas under Files. A subset of the data is shown in the accompanying table. Two of the variables are qualitative in nature: Wall construction and roof construction. Two of the variables are quantitative: (1) Peak ground acceleration (PGA), a measure of the intensity of ground shaking that the home experienced in the earthquake (in units of acceleration of gravity, g); (2) Damage, which indicates the amount of damage experienced in the earthquake in New Zealand dollars; and (3) Building value, the pre-earthquake value of the home in New Zealand dollars. PGA (g) Damage (NZ$) Building Value (NZ$) Wall Construction Roof Construction Property ID 1 0.645 2 0.101 141,416 2,826 253,000 B 305,000 B T 3…arrow_forwardRose Par posted Apr 5, 2025 9:01 PM Subscribe To: Store Owner From: Rose Par, Manager Subject: Decision About Selling Custom Flower Bouquets Date: April 5, 2025 Our shop, which prides itself on selling handmade gifts and cultural items, has recently received inquiries from customers about the availability of fresh flower bouquets for special occasions. This has prompted me to consider whether we should introduce custom flower bouquets in our shop. We need to decide whether to start offering this new product. There are three options: provide a complete selection of custom bouquets for events like birthdays and anniversaries, start small with just a few ready-made flower arrangements, or do not add flowers. There are also three possible outcomes. First, we might see high demand, and the bouquets could sell quickly. Second, we might have medium demand, with a few sold each week. Third, there might be low demand, and the flowers may not sell well, possibly going to waste. These outcomes…arrow_forwardConsider the state space model X₁ = §Xt−1 + Wt, Yt = AX+Vt, where Xt Є R4 and Y E R². Suppose we know the covariance matrices for Wt and Vt. How many unknown parameters are there in the model?arrow_forward
- Business Discussarrow_forwardYou want to obtain a sample to estimate the proportion of a population that possess a particular genetic marker. Based on previous evidence, you believe approximately p∗=11% of the population have the genetic marker. You would like to be 90% confident that your estimate is within 0.5% of the true population proportion. How large of a sample size is required?n = (Wrong: 10,603) Do not round mid-calculation. However, you may use a critical value accurate to three decimal places.arrow_forward2. [20] Let {X1,..., Xn} be a random sample from Ber(p), where p = (0, 1). Consider two estimators of the parameter p: 1 p=X_and_p= n+2 (x+1). For each of p and p, find the bias and MSE.arrow_forward
- 1. [20] The joint PDF of RVs X and Y is given by xe-(z+y), r>0, y > 0, fx,y(x, y) = 0, otherwise. (a) Find P(0X≤1, 1arrow_forward4. [20] Let {X1,..., X} be a random sample from a continuous distribution with PDF f(x; 0) = { Axe 5 0, x > 0, otherwise. where > 0 is an unknown parameter. Let {x1,...,xn} be an observed sample. (a) Find the value of c in the PDF. (b) Find the likelihood function of 0. (c) Find the MLE, Ô, of 0. (d) Find the bias and MSE of 0.arrow_forward3. [20] Let {X1,..., Xn} be a random sample from a binomial distribution Bin(30, p), where p (0, 1) is unknown. Let {x1,...,xn} be an observed sample. (a) Find the likelihood function of p. (b) Find the MLE, p, of p. (c) Find the bias and MSE of p.arrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
Recommended textbooks for you
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman

MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc

Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning

Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning

Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON

The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License