Statistics for Engineers and Scientists
4th Edition
ISBN: 9780073401331
Author: William Navidi Prof.
Publisher: McGraw-Hill Education
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Chapter 9, Problem 4SE
a.
To determine
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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.
To help consumers in purchasing a laptop computer, Consumer Reports calculates an overall test score for each computer tested based upon rating factors such as ergonomics, portability, performance, display, and battery life. Higher overall scores indicate better test results. The following data show the average retail price and the overall score for ten 13-inch models (Consumer Reports website, October 25, 2012).
Brand & Model
Price ($)
Overall Score
Samsung Ultrabook NP900X3C-A01US
1250
83
Apple MacBook Air MC965LL/A
1300
83
Apple MacBook Air MD231LL/A
1200
82
HP ENVY 13-2050nr Spectre XT
950
79
Sony VAIO SVS13112FXB
800
77
Acer Aspire S5-391-9880 Ultrabook
1200
74
Apple MacBook Pro MD101LL/A
1200
74
Apple MacBook Pro MD313LL/A
1000
73
Dell Inspiron I13Z-6591SLV
700
67
Samsung NP535U3C-A01US
600
63
a. Select a scatter diagram with price as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship…
To the Internal Revenue Service, the reasonableness of total itemized deductions depends on the taxpayer’s adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow.
Adjusted Gross Income ($1000s)
Reasonable Amount ofItemized Deductions ($1000s)
22
9.6
27
9.6
32
10.1
48
11.1
65
13.5
85
17.7
120
25.5
Compute b1 and b0 (to 4 decimals).b1 b0 Complete the estimated regression equation (to 2 decimals). = + x
Predict a reasonable level of total itemized deductions for a taxpayer with an adjusted gross income of $52.5 thousand (to 2 decimals). thousand dollarsWhat is the value, in dollars, of…
Chapter 9 Solutions
Statistics for Engineers and Scientists
Ch. 9.1 - A study is made of the effect of curing...Ch. 9.1 - The article Nutrient Deprivation Improves Field...Ch. 9.1 - Prob. 3ECh. 9.1 - The antibiotic gentamicin sulphate is often...Ch. 9.1 - The article influence of Age on Masonry Bond...Ch. 9.1 - Archaeologists can determine the diets of ancient...Ch. 9.1 - The article Secretion of Parathyroid Hormone...Ch. 9.1 - The article Impact of Free Calcium Oxide Content...Ch. 9.1 - A certain chemical reaction was run three times at...Ch. 9.1 - An experiment to compare the lifetimes of four...
Ch. 9.1 - Prob. 11ECh. 9.1 - Prob. 12ECh. 9.1 - Prob. 13ECh. 9.1 - Prob. 14ECh. 9.1 - Refer to Exercise 12. a. Compute the quantity...Ch. 9.1 - Prob. 16ECh. 9.1 - Prob. 17ECh. 9.1 - Prob. 18ECh. 9.1 - Prob. 19ECh. 9.1 - The following MINITAB output presents a power...Ch. 9.2 - Exercises for Section 9.2 1.The article Organic...Ch. 9.2 - The article Optimum Design of an A-pillar Trim...Ch. 9.2 - Prob. 3ECh. 9.2 - Refer to Exercise 2 in Section 9.1. a.Use the...Ch. 9.2 - Refer to Exercise 13 in Section 9.1. a. Use the...Ch. 9.2 - Refer to Exercise 1 in Section 9.1. A scientist...Ch. 9.2 - Refer to Exercise 13 in Section 9.1. A...Ch. 9.2 - Refer to Exercise 3 in Section 9.1. a. Use the...Ch. 9.2 - Refer to Exercise 5 in Section 9.1. a. Use the...Ch. 9.2 - Refer to Exercise 9 in Section 9.1. a. Use the...Ch. 9.2 - Refer to Exercise 16 in Section 9.1. a. Use the...Ch. 9.2 - Refer to Exercise 18 in Section 9.1. a. Use the...Ch. 9.2 - In an experiment to determine the effect of...Ch. 9.2 - In an experiment to determine the effect of curing...Ch. 9.2 - Prob. 15ECh. 9.2 - For some data sets, the F statistic will reject...Ch. 9.3 - To assess the effect of piston ring type and oil...Ch. 9.3 - A machine shop has three machines used in...Ch. 9.3 - An experiment to determine the effect of mold...Ch. 9.3 - The effect of curing pressure on bond strength was...Ch. 9.3 - The article Change in Creep Behavior of Plexiform...Ch. 9.3 - Prob. 6ECh. 9.3 - Prob. 7ECh. 9.3 - Adding glass panicles to clay brick may improve...Ch. 9.3 - The article Application of Radial Basis Function...Ch. 9.3 - Prob. 10ECh. 9.3 - Prob. 11ECh. 9.3 - The article Anodic Fenton Treatment of Treflan MTF...Ch. 9.3 - Refer to Exercise 12. The treatments with a...Ch. 9.3 - The article Use of Taguchi Methods and Multiple...Ch. 9.3 - The article T-Bracing for Stability of Compression...Ch. 9.3 - The article referred to in Exercise 15 also...Ch. 9.3 - Prob. 17ECh. 9.3 - Prob. 18ECh. 9.3 - The article Cellulose Acetate Microspheres...Ch. 9.4 - Recycling newsprint is important in reducing...Ch. 9.4 - A study was done to see which of four machines is...Ch. 9.4 - Prob. 3ECh. 9.4 - Three different corrosion-resistant coatings are...Ch. 9.4 - The article Genotype-Environment Interactions and...Ch. 9.4 - The article Sprinkler Technologies, Soil...Ch. 9.4 - The article Bromate Surveys in French Drinking...Ch. 9.4 - The article Multi-objective Scheduling Problems:...Ch. 9.4 - You have been given the task of designing a study...Ch. 9.4 - An engineering professor wants to determine which...Ch. 9.5 - Prob. 1ECh. 9.5 - Give an example of a factorial experiment in which...Ch. 9.5 - Prob. 3ECh. 9.5 - The article Efficient Pyruvate Production by a...Ch. 9.5 - The article cited in Exercise 4 also investigated...Ch. 9.5 - A metal casting process for the production of...Ch. 9.5 - The article An Investigation into the Ball...Ch. 9.5 - In a 2p design with one replicate per treatment,...Ch. 9.5 - Prob. 9ECh. 9.5 - Prob. 10ECh. 9.5 - The article Factorial Design for Column Rotation...Ch. 9.5 - Prob. 12ECh. 9.5 - Prob. 13ECh. 9 - The article Gypsum Effect on the Aggregate Size...Ch. 9 - Prob. 2SECh. 9 - Prob. 3SECh. 9 - Prob. 4SECh. 9 - Prob. 5SECh. 9 - Prob. 6SECh. 9 - Prob. 7SECh. 9 - The article Case Study Based Instruction of DOE...Ch. 9 - The article Combined Analysis of Real-Time...Ch. 9 - Vermont maple sugar producers sponsored a testing...Ch. 9 - Prob. 11SECh. 9 - Prob. 12SECh. 9 - Prob. 13SECh. 9 - The article Enthalpies and Entropies of Transfer...Ch. 9 - Prob. 15SECh. 9 - Prob. 16SECh. 9 - The article Factorial Experiments in the...Ch. 9 - The Williamsburg Bridge is a suspension bridge...Ch. 9 - Prob. 19SECh. 9 - In the article Nitrate Contamination of Alluvial...Ch. 9 - The article Factorial Experiments in the...Ch. 9 - Prob. 22SECh. 9 - Prob. 23SECh. 9 - Prob. 24SE
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