Probability and Statistics for Engineering and the Sciences STAT 400 - University Of Maryland
9th Edition
ISBN: 9781305764477
Author: Jay L. Devore
Publisher: Cengage Learning
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Chapter 9, Problem 87SE
To determine
Check whether the data suggest that an introduction of wait staff increases tips on average by more than 50%.
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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 9 Solutions
Probability and Statistics for Engineering and the Sciences STAT 400 - University Of Maryland
Ch. 9.1 - An article in the November 1983 Consumer Reports...Ch. 9.1 - The National Health Statistics Reports dated Oct....Ch. 9.1 - Pilates is a popular set of exercises for the...Ch. 9.1 - Reliance on solid biomass fuel for cooking and...Ch. 9.1 - Persons having Reynauds syndrome are apt to suffer...Ch. 9.1 - An experiment to compare the tension bond strength...Ch. 9.1 - Is there any systematic tendency for part-time...Ch. 9.1 - Tensile-strength tests were carried out on two...Ch. 9.1 - The article Evaluation of a Ventilation Strategy...Ch. 9.1 - An experiment was performed to compare the...
Ch. 9.1 - The level of lead in the blood was determined for...Ch. 9.1 - The accompanying summary data on total cholesterol...Ch. 9.1 - A mechanical engineer wishes to compare strength...Ch. 9.1 - The level of monoamine oxidase (MAO) activity in...Ch. 9.1 - Prob. 15ECh. 9.1 - Prob. 16ECh. 9.2 - Determine the number of degrees of freedom for the...Ch. 9.2 - Which way of dispensing champagne, the traditional...Ch. 9.2 - Suppose 1 and 2 are true mean stopping distances...Ch. 9.2 - Use the data of Exercise 19 to calculate a 95% CI...Ch. 9.2 - Quantitative noninvasive techniques are needed for...Ch. 9.2 - According to the article Modeling and Predicting...Ch. 9.2 - Fusible interlinings are being used with...Ch. 9.2 - Damage to grapes from bird predation is a serious...Ch. 9.2 - The accompanying data consists of prices () for...Ch. 9.2 - The article The Influence of Corrosion Inhibitor...Ch. 9.2 - Anorexia Nervosa (AN) is a psychiatric condition...Ch. 9.2 - As the population ages, there is increasing...Ch. 9.2 - The article Effect of Internal Gas Pressure on the...Ch. 9.2 - The article Flexure of Concrete Beams Reinforced...Ch. 9.2 - Refer to Exercise 33 in Section 7.3. The cited...Ch. 9.2 - The degenerative disease osteoarthritis most...Ch. 9.2 - The article The Effects of a Low-Fat, Plant-Based...Ch. 9.2 - Consider the pooled t variable T=(XY)(12)sp1m+1n...Ch. 9.2 - Prob. 35ECh. 9.3 - Consider the accompanying data on breaking load...Ch. 9.3 - Prob. 37ECh. 9.3 - Adding computerized medical images to a database...Ch. 9.3 - Scientists and engineers frequently wish to...Ch. 9.3 - Lactation promotes a temporary loss of bone mass...Ch. 9.3 - Antipsychotic drugs are widely prescribed for...Ch. 9.3 - Many freeways have service (or logo) signs that...Ch. 9.3 - Cushings disease is characterized by muscular...Ch. 9.3 - Prob. 44ECh. 9.3 - Torsion during hip external rotation (ER) and...Ch. 9.3 - Example 7.11 gave data on the modulus of...Ch. 9.3 - The article Slender High-Strength RC Columns Under...Ch. 9.3 - Prob. 48ECh. 9.4 - Consider the following two questions designed to...Ch. 9.4 - Recent incidents of food contamination have caused...Ch. 9.4 - It is well known that a placebo, a fake medication...Ch. 9.4 - Do teachers find their work rewarding and...Ch. 9.4 - Olestra is a fat substitute approved by the FDA...Ch. 9.4 - Teen Court is a juvenile diversion program...Ch. 9.4 - In medical investigations, the ratio = p1/p2 is...Ch. 9.4 - Sometimes experiments involving success or failure...Ch. 9.4 - Two different types of alloy, A and B, have been...Ch. 9.4 - Prob. 58ECh. 9.5 - Obtain or compute the following quantities: a....Ch. 9.5 - Give as much information as you can about the...Ch. 9.5 - Prob. 61ECh. 9.5 - Prob. 62ECh. 9.5 - Toxaphene is an insecticide that has been...Ch. 9.5 - The following observations are on time (h) for a...Ch. 9.5 - The article Enhancement of Compressive Properties...Ch. 9.5 - Prob. 66ECh. 9 - The accompanying summary data on compression...Ch. 9 - The article Supervised Exercise Versus Non-...Ch. 9 - Is the response rate for questionnaires affected...Ch. 9 - Shoveling is not exactly a high-tech activity, but...Ch. 9 - The article Quantitative MRI and Electrophysiology...Ch. 9 - The following summary data on bending strength...Ch. 9 - Prob. 73SECh. 9 - The derailment of a freight train due to the...Ch. 9 - Prob. 75SECh. 9 - Prob. 76SECh. 9 - Information about hand posture and forces...Ch. 9 - Prob. 78SECh. 9 - The article The Accuracy of Stated Energy Contents...Ch. 9 - Arsenic is a known carcinogen and poison. The...Ch. 9 - Prob. 81SECh. 9 - Acrylic bone cement is commonly used in total...Ch. 9 - In an experiment to compare bearing strengths of...Ch. 9 - Prob. 84SECh. 9 - An experimenter wishes to obtain a CI for the...Ch. 9 - Prob. 86SECh. 9 - Prob. 87SECh. 9 - The paper Quantitative Assessment of Glenohumeral...Ch. 9 - Prob. 89SECh. 9 - Prob. 90SECh. 9 - Prob. 91SECh. 9 - Prob. 92SECh. 9 - The article Evaluating Variability in Filling...Ch. 9 - Prob. 94SECh. 9 - Prob. 95SE
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- 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
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