Pearson eText for Elementary Statistics: Picturing the World -- Instant Access (Pearson+)
7th Edition
ISBN: 9780137504329
Author: Ron Larson, Betsy Farber
Publisher: PEARSON+
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Chapter 8, Problem 8.4.28RE
To determine
To check: Whether the claim that the proportion of population 1 is less than the proportion of population 2 or not.
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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.
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.
From a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean?
Question content area bottom
Part 1
A
9090%
confidence interval for the population mean is
left bracket nothing comma nothing right bracketenter your response here,enter your response here.
(Use ascending order. Round to two decimal places as needed.)
Chapter 8 Solutions
Pearson eText for Elementary Statistics: Picturing the World -- Instant Access (Pearson+)
Ch. 8.1 - Classify each pair of samples as independent or...Ch. 8.1 - A survey indicates that the mean annual wages for...Ch. 8.1 - A travel agency claims that the average daily cost...Ch. 8.1 - What is the difference between two samples that...Ch. 8.1 - Explain how to perform a two-sample z-test for the...Ch. 8.1 - Describe another way you can perform a hypothesis...Ch. 8.1 - What conditions are necessary in order to use the...Ch. 8.1 - Prob. 5ECh. 8.1 - Prob. 6ECh. 8.1 - Independent and Dependent Samples In Exercises 58,...
Ch. 8.1 - Prob. 8ECh. 8.1 - In Exercises 9 and 10, use the TI-H4 Plus display...Ch. 8.1 - Prob. 10ECh. 8.1 - Prob. 11ECh. 8.1 - In Exercises 1114, test the claim about the...Ch. 8.1 - In Exercises 1114, test the claim about the...Ch. 8.1 - Prob. 14ECh. 8.1 - Testing the Difference Between Two Means In...Ch. 8.1 - Testing the Difference Between Two Means In...Ch. 8.1 - Prob. 17ECh. 8.1 - Prob. 18ECh. 8.1 - Prob. 19ECh. 8.1 - Testing the Difference Between Two Means In...Ch. 8.1 - Testing the Difference Between Two Means In...Ch. 8.1 - Prob. 22ECh. 8.1 - Prob. 23ECh. 8.1 - Prob. 24ECh. 8.1 - Prob. 25ECh. 8.1 - Getting at the Concept Explain why the null...Ch. 8.1 - Testing a Difference Other Than Zero Sometimes a...Ch. 8.1 - Testing a Difference Other Than Zero Sometimes a...Ch. 8.1 - Prob. 29ECh. 8.1 - Architect Salaries Construct a 99% confidence...Ch. 8.2 - The annual earnings of 25 people with a high...Ch. 8.2 - A manufacturer claims that the mean driving cost...Ch. 8.2 - What conditions are necessary in order to use the...Ch. 8.2 - Explain how to perform a two-sample t-test for the...Ch. 8.2 - Prob. 3ECh. 8.2 - Prob. 4ECh. 8.2 - Prob. 5ECh. 8.2 - Prob. 6ECh. 8.2 - In Exercises 38, use Table 5 in Appendix B to find...Ch. 8.2 - Prob. 8ECh. 8.2 - In Exercises 912, test the claim about the...Ch. 8.2 - Prob. 10ECh. 8.2 - Prob. 11ECh. 8.2 - In Exercises 912, test the claim about the...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Prob. 17ECh. 8.2 - Prob. 18ECh. 8.2 - Prob. 19ECh. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Testing the Difference Between Two Means in...Ch. 8.2 - Constructing Confidence Intervals for 1 2 When...Ch. 8.2 - Constructing Confidence Intervals for 1 2 When...Ch. 8.2 - Constructing Confidence Intervals for 1 2 When...Ch. 8.2 - Prob. 26ECh. 8.2 - How Protein Affects Weight Gain in Overeaters In a...Ch. 8.2 - Prob. 2CSCh. 8.2 - How Protein Affects Weight Gain in Overeaters In a...Ch. 8.2 - Prob. 4CSCh. 8.2 - Prob. 5CSCh. 8.3 - A shoe manufacturer claims that athletes can...Ch. 8.3 - Prob. 2TYCh. 8.3 - Prob. 1ECh. 8.3 - Prob. 2ECh. 8.3 - Prob. 3ECh. 8.3 - Prob. 4ECh. 8.3 - Prob. 5ECh. 8.3 - Prob. 6ECh. 8.3 - Prob. 7ECh. 8.3 - Prob. 8ECh. 8.3 - Prob. 9ECh. 8.3 - Testing the Difference Between Two Means In...Ch. 8.3 - Prob. 11ECh. 8.3 - Prob. 12ECh. 8.3 - Prob. 13ECh. 8.3 - Testing the Difference Between Two Means In...Ch. 8.3 - Prob. 15ECh. 8.3 - Prob. 16ECh. 8.3 - Testing the Difference Between Two Means In...Ch. 8.3 - Testing the Difference Between Two Means In...Ch. 8.3 - Testing the Difference Between Two Means In...Ch. 8.3 - Prob. 20ECh. 8.3 - Prob. 21ECh. 8.3 - Prob. 22ECh. 8.3 - Prob. 23ECh. 8.3 - Prob. 24ECh. 8.4 - Consider the results of the study discussed on...Ch. 8.4 - Prob. 2TYCh. 8.4 - What conditions are necessary in order to use the...Ch. 8.4 - Explain how to perform a two-sample z-test for the...Ch. 8.4 - In Exercises 36, determine whether a normal...Ch. 8.4 - Prob. 4ECh. 8.4 - Prob. 5ECh. 8.4 - In Exercises 36, determine whether a normal...Ch. 8.4 - Prob. 7ECh. 8.4 - Testing the Difference Between Two Proportions In...Ch. 8.4 - Prob. 9ECh. 8.4 - Prob. 10ECh. 8.4 - Prob. 11ECh. 8.4 - Testing the Difference Between Two Proportions In...Ch. 8.4 - Prob. 13ECh. 8.4 - Prob. 14ECh. 8.4 - Intermarriages In Exercises 1318, use the figure,...Ch. 8.4 - Prob. 16ECh. 8.4 - Prob. 17ECh. 8.4 - Intermarriages In Exercises 1318, use the figure,...Ch. 8.4 - Prob. 19ECh. 8.4 - Prob. 20ECh. 8.4 - Prob. 21ECh. 8.4 - U.S. Workforce In Exercises 1922, use the figure...Ch. 8.4 - Prob. 23ECh. 8.4 - Prob. 24ECh. 8.4 - Prob. 25ECh. 8.4 - Prob. 26ECh. 8 - Uses Hypothesis Testing with Two Samples...Ch. 8 - Medical research often involves blind and...Ch. 8 - Prob. 8.1.1RECh. 8 - Prob. 8.1.2RECh. 8 - Sample 1: The fuel efficiencies of 20 sports...Ch. 8 - Prob. 8.1.4RECh. 8 - Prob. 8.1.5RECh. 8 - In Exercises 58, test the claim about the...Ch. 8 - Prob. 8.1.7RECh. 8 - In Exercises 58, test the claim about the...Ch. 8 - In Exercises 9 and 10, (a) identify the claim and...Ch. 8 - Prob. 8.1.10RECh. 8 - Prob. 8.2.11RECh. 8 - Prob. 8.2.12RECh. 8 - Prob. 8.2.13RECh. 8 - Prob. 8.2.14RECh. 8 - Prob. 8.2.15RECh. 8 - Prob. 8.2.16RECh. 8 - Prob. 8.2.17RECh. 8 - Prob. 8.2.18RECh. 8 - Prob. 8.3.19RECh. 8 - In Exercises 1922, test the claim about the mean...Ch. 8 - Prob. 8.3.21RECh. 8 - Prob. 8.3.22RECh. 8 - Prob. 8.3.23RECh. 8 - In Exercises 23 and 24, (a) identify the claim and...Ch. 8 - Prob. 8.4.25RECh. 8 - Prob. 8.4.26RECh. 8 - Prob. 8.4.27RECh. 8 - Prob. 8.4.28RECh. 8 - Prob. 8.4.29RECh. 8 - Prob. 8.4.30RECh. 8 - Prob. 1CQCh. 8 - Prob. 2CQCh. 8 - Prob. 3CQCh. 8 - Prob. 4CQCh. 8 - Take this test as you would take a test in class....Ch. 8 - Prob. 2CTCh. 8 - A physical therapist suggests that soft tissue...Ch. 8 - Take this test as you would take a test in class....Ch. 8 - The U.S. Department of Health Human Services...Ch. 8 - Prob. 2RSRDCh. 8 - Prob. 3RSRDCh. 8 - Prob. 4RSRDCh. 8 - Prob. 1TCh. 8 - Prob. 2TCh. 8 - Prob. 3TCh. 8 - Prob. 4TCh. 8 - Prob. 5TCh. 8 - Prob. 1CRCh. 8 - Prob. 2CRCh. 8 - Prob. 3CRCh. 8 - Prob. 4CRCh. 8 - In Exercises 36, construct the indicated...Ch. 8 - In Exercises 36, construct the indicated...Ch. 8 - In Exercises 710, the statement represents a...Ch. 8 - In Exercises 710, the statement represents a...Ch. 8 - In Exercises 710, the statement represents a...Ch. 8 - In Exercises 710, the statement represents a...Ch. 8 - Prob. 11CRCh. 8 - Prob. 12CRCh. 8 - Prob. 13CRCh. 8 - Prob. 14CRCh. 8 - Prob. 15CRCh. 8 - Prob. 16CRCh. 8 - A researcher claims that 5% of people who wear...
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