Nature of Mathematics (MindTap Course List)
13th Edition
ISBN: 9781133947257
Author: karl J. smith
Publisher: Cengage Learning
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Chapter 8.3, Problem 5PS
Compare the size of a quart and a liter.
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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
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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.
Steel Production Planning:
Let S represent the amount of steel produced (in tons). Steel Production is related to the amount of labor used(L) and the amount of capital used ( C ) by the following function:S = 20L⁰˙³⁰C⁰˙⁷⁰In this formula L represents the units of Labor input and C the units of Capital input. Each unit of Labor costs $50, and each unit of Capital costs $100.
a:Formulate an optimization problem that will determine how much labor and capital are needed to produce 50,000 tons of steel at minimum cost.
Q#3B: Solve the optimization problem you formulated in part (a). (Hint: When using Excel Solver, start with an initial L>0 and C>0.)…
Chapter 8 Solutions
Nature of Mathematics (MindTap Course List)
Ch. 8.1 - IN YOUR OWN WORDS Contrast precision and accuracy.Ch. 8.1 - Prob. 2PSCh. 8.1 - Prob. 3PSCh. 8.1 - Prob. 4PSCh. 8.1 - Prob. 5PSCh. 8.1 - Prob. 6PSCh. 8.1 - Prob. 7PSCh. 8.1 - Prob. 8PSCh. 8.1 - From memory and without using any measuring...Ch. 8.1 - From memory and without using any measuring...
Ch. 8.1 - Prob. 11PSCh. 8.1 - Prob. 12PSCh. 8.1 - Prob. 13PSCh. 8.1 - Prob. 14PSCh. 8.1 - Prob. 15PSCh. 8.1 - Prob. 16PSCh. 8.1 - Prob. 17PSCh. 8.1 - Prob. 18PSCh. 8.1 - Prob. 19PSCh. 8.1 - Prob. 20PSCh. 8.1 - Prob. 21PSCh. 8.1 - Prob. 22PSCh. 8.1 - Prob. 23PSCh. 8.1 - Prob. 24PSCh. 8.1 - Prob. 25PSCh. 8.1 - Prob. 26PSCh. 8.1 - Prob. 27PSCh. 8.1 - Prob. 28PSCh. 8.1 - Prob. 29PSCh. 8.1 - Prob. 30PSCh. 8.1 - Prob. 31PSCh. 8.1 - Prob. 32PSCh. 8.1 - Prob. 33PSCh. 8.1 - Prob. 34PSCh. 8.1 - Prob. 35PSCh. 8.1 - Prob. 36PSCh. 8.1 - Prob. 37PSCh. 8.1 - Prob. 38PSCh. 8.1 - Prob. 39PSCh. 8.1 - Prob. 40PSCh. 8.1 - Prob. 41PSCh. 8.1 - Prob. 42PSCh. 8.1 - Prob. 43PSCh. 8.1 - Prob. 44PSCh. 8.1 - Prob. 45PSCh. 8.1 - Prob. 46PSCh. 8.1 - Prob. 47PSCh. 8.1 - Prob. 48PSCh. 8.1 - Prob. 49PSCh. 8.1 - Prob. 50PSCh. 8.1 - Prob. 51PSCh. 8.1 - Prob. 52PSCh. 8.1 - Prob. 53PSCh. 8.1 - Prob. 54PSCh. 8.1 - Prob. 55PSCh. 8.1 - The perimeter of this pentagon is 280cm. Find the...Ch. 8.1 - Prob. 57PSCh. 8.1 - Prob. 58PSCh. 8.1 - Prob. 59PSCh. 8.1 - Prob. 60PSCh. 8.2 - IN YOUR OWN WORDS What do we mean by area?Ch. 8.2 - Prob. 2PSCh. 8.2 - Prob. 3PSCh. 8.2 - Prob. 4PSCh. 8.2 - Prob. 5PSCh. 8.2 - Prob. 6PSCh. 8.2 - Prob. 7PSCh. 8.2 - Prob. 8PSCh. 8.2 - Prob. 9PSCh. 8.2 - Prob. 10PSCh. 8.2 - Prob. 11PSCh. 8.2 - Prob. 12PSCh. 8.2 - Prob. 13PSCh. 8.2 - Prob. 14PSCh. 8.2 - Prob. 15PSCh. 8.2 - Prob. 16PSCh. 8.2 - Prob. 17PSCh. 8.2 - Prob. 18PSCh. 8.2 - Prob. 19PSCh. 8.2 - Prob. 20PSCh. 8.2 - Prob. 21PSCh. 8.2 - Prob. 22PSCh. 8.2 - Prob. 23PSCh. 8.2 - Prob. 24PSCh. 8.2 - Prob. 25PSCh. 8.2 - Prob. 26PSCh. 8.2 - Prob. 27PSCh. 8.2 - Prob. 28PSCh. 8.2 - Prob. 29PSCh. 8.2 - Prob. 30PSCh. 8.2 - Prob. 31PSCh. 8.2 - Prob. 32PSCh. 8.2 - Prob. 33PSCh. 8.2 - Prob. 34PSCh. 8.2 - Prob. 35PSCh. 8.2 - Prob. 36PSCh. 8.2 - Prob. 37PSCh. 8.2 - Prob. 38PSCh. 8.2 - Prob. 39PSCh. 8.2 - Find the area of each shaded region in Problems...Ch. 8.2 - Prob. 41PSCh. 8.2 - Prob. 42PSCh. 8.2 - Prob. 43PSCh. 8.2 - Prob. 44PSCh. 8.2 - Prob. 45PSCh. 8.2 - Prob. 46PSCh. 8.2 - Prob. 47PSCh. 8.2 - Prob. 48PSCh. 8.2 - Prob. 49PSCh. 8.2 - Prob. 50PSCh. 8.2 - Prob. 51PSCh. 8.2 - Prob. 52PSCh. 8.2 - Prob. 53PSCh. 8.2 - Prob. 54PSCh. 8.2 - Prob. 55PSCh. 8.2 - What is the area to the nearest square inch of a...Ch. 8.2 - Find the area to the nearest square inch of the...Ch. 8.2 - Find the area to the nearest square inch of the...Ch. 8.2 - IN YOUR OWN WORDS Extra square centimeter problem...Ch. 8.2 - IN YOUR OWN WORDS Extra square inch problem Figure...Ch. 8.3 - IN YOUR OWN WORDS Contrast length, area, and...Ch. 8.3 - IN YOUR OWN WORDS What do we mean by surface area...Ch. 8.3 - IN YOUR OWN WORDS Contrast volume and capacity.Ch. 8.3 - Compare the size of a cubic inch and a cubic...Ch. 8.3 - Compare the size of a quart and a liter.Ch. 8.3 - Compare a meter and a yard.Ch. 8.3 - In Problems 7-8, find the volume of each solid by...Ch. 8.3 - In Problems 7-8, find the volume of each solid by...Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problem 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Measure each amount given in Problems 17-21....Ch. 8.3 - Measure each amount given in Problems 17-21....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - Prob. 28PSCh. 8.3 - Prob. 29PSCh. 8.3 - Prob. 30PSCh. 8.3 - Prob. 31PSCh. 8.3 - Prob. 32PSCh. 8.3 - Prob. 33PSCh. 8.3 - Prob. 34PSCh. 8.3 - Prob. 35PSCh. 8.3 - Prob. 36PSCh. 8.3 - Prob. 37PSCh. 8.3 - Prob. 38PSCh. 8.3 - Prob. 39PSCh. 8.3 - Prob. 40PSCh. 8.3 - Prob. 41PSCh. 8.3 - Prob. 42PSCh. 8.3 - Prob. 43PSCh. 8.3 - Prob. 44PSCh. 8.3 - Prob. 45PSCh. 8.3 - Prob. 46PSCh. 8.3 - Prob. 47PSCh. 8.3 - Prob. 48PSCh. 8.3 - Prob. 49PSCh. 8.3 - Prob. 50PSCh. 8.3 - Prob. 51PSCh. 8.3 - Prob. 52PSCh. 8.3 - Prob. 53PSCh. 8.3 - Prob. 54PSCh. 8.3 - The exterior dimensions of a refrigerator/freezer...Ch. 8.3 - Prob. 56PSCh. 8.3 - Prob. 57PSCh. 8.3 - Use the plot shown in Figure 8.20 and give your...Ch. 8.3 - Prob. 59PSCh. 8.3 - a. Guess what percentage of the worlds population...Ch. 8.4 - Prob. 1PSCh. 8.4 - Prob. 2PSCh. 8.4 - Prob. 3PSCh. 8.4 - Prob. 4PSCh. 8.4 - Name the metric units you would use to measure...Ch. 8.4 - Prob. 6PSCh. 8.4 - Prob. 7PSCh. 8.4 - Prob. 8PSCh. 8.4 - Prob. 9PSCh. 8.4 - Prob. 10PSCh. 8.4 - Prob. 11PSCh. 8.4 - Prob. 12PSCh. 8.4 - Prob. 13PSCh. 8.4 - Prob. 14PSCh. 8.4 - Prob. 15PSCh. 8.4 - Prob. 16PSCh. 8.4 - Without measuring, pick the best choice in...Ch. 8.4 - Prob. 18PSCh. 8.4 - Prob. 19PSCh. 8.4 - Prob. 20PSCh. 8.4 - Prob. 21PSCh. 8.4 - Prob. 22PSCh. 8.4 - Prob. 23PSCh. 8.4 - Prob. 24PSCh. 8.4 - Prob. 25PSCh. 8.4 - Prob. 26PSCh. 8.4 - Prob. 27PSCh. 8.4 - Prob. 28PSCh. 8.4 - Prob. 29PSCh. 8.4 - Prob. 30PSCh. 8.4 - Write each measurement given in Problems 3138...Ch. 8.4 - Prob. 32PSCh. 8.4 - Prob. 33PSCh. 8.4 - Prob. 34PSCh. 8.4 - Prob. 35PSCh. 8.4 - Prob. 36PSCh. 8.4 - Prob. 37PSCh. 8.4 - Prob. 38PSCh. 8.4 - Prob. 39PSCh. 8.4 - Prob. 40PSCh. 8.4 - Prob. 41PSCh. 8.4 - Prob. 42PSCh. 8.4 - Prob. 43PSCh. 8.4 - Prob. 44PSCh. 8.4 - Prob. 45PSCh. 8.4 - Prob. 46PSCh. 8.4 - Prob. 47PSCh. 8.4 - Prob. 48PSCh. 8.4 - Prob. 49PSCh. 8.4 - Prob. 50PSCh. 8.4 - Prob. 51PSCh. 8.4 - Prob. 52PSCh. 8.4 - Prob. 53PSCh. 8.4 - Prob. 54PSCh. 8.4 - Prob. 55PSCh. 8.4 - If the length of a box is doubled, the width is...Ch. 8.4 - Prob. 57PSCh. 8.4 - Prob. 58PSCh. 8.4 - Prob. 59PSCh. 8.4 - A polyhedron is a simple closed surface in space...Ch. 8.CR - Prob. 1CRCh. 8.CR - Prob. 2CRCh. 8.CR - Prob. 3CRCh. 8.CR - Prob. 4CRCh. 8.CR - Prob. 5CRCh. 8.CR - Prob. 6CRCh. 8.CR - Prob. 7CRCh. 8.CR - Prob. 8CRCh. 8.CR - Prob. 9CRCh. 8.CR - Prob. 10CRCh. 8.CR - Prob. 11CRCh. 8.CR - Prob. 12CRCh. 8.CR - Prob. 13CRCh. 8.CR - Prob. 14CRCh. 8.CR - Prob. 15CRCh. 8.CR - Prob. 16CRCh. 8.CR - Prob. 17CRCh. 8.CR - Prob. 18CRCh. 8.CR - Prob. 19CRCh. 8.CR - John is bragging about his new 40-inch measured...
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