Elementary Statistics: A Step By Step Approach
10th Edition
ISBN: 9781259755330
Author: Allan G. Bluman
Publisher: McGraw-Hill Education
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Chapter 9.2, Problem 17E
To determine
To construct: The 90% confidence interval for the difference of the
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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.
Chapter 9 Solutions
Elementary Statistics: A Step By Step Approach
Ch. 9.1 - Home Runs For a sports radio talk show, you are...Ch. 9.1 - Explain the difference between testing a single...Ch. 9.1 - When a researcher selects all possible pairs of...Ch. 9.1 - What three assumptions must be met when you are...Ch. 9.1 - Show two different ways to state that the means of...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...
Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - Prob. 13ECh. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - Self-Esteem Scores In a study of a group of women...Ch. 9.1 - Ages of College Students The dean of students...Ch. 9.1 - Working Breath Rate Two random samples of 32...Ch. 9.1 - Traveling Distances Find the 95% confidence...Ch. 9.1 - Prob. 19ECh. 9.1 - Prob. 20ECh. 9.1 - Television Watching The average number of hours of...Ch. 9.1 - For Exercises 5 through 16, perform each of the...Ch. 9.1 - Prob. 23ECh. 9.1 - Home Prices According to the almanac, the average...Ch. 9.1 - Exam Scores at Private and Public Schools A...Ch. 9.1 - Sale Prices for Houses The average sales price of...Ch. 9.1 - Average Earnings for College Graduates The average...Ch. 9.2 - Too Long on the Telephone A company collects data...Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - Prob. 3ECh. 9.2 - Prob. 4ECh. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - Prob. 9ECh. 9.2 - Find the 95% confidence interval for the...Ch. 9.2 - Prob. 11ECh. 9.2 - Prob. 12ECh. 9.2 - Prob. 13ECh. 9.2 - Prob. 14ECh. 9.2 - Prob. 15ECh. 9.2 - Ages of Homes Whiting, Indiana, leads the Top 100...Ch. 9.2 - Prob. 17ECh. 9.2 - Out-of-State Tuitions The out-of-state tuitions...Ch. 9.2 - Gasoline Prices A random sample of monthly...Ch. 9.2 - For these exercises, perform each of these steps....Ch. 9.2 - Prob. 21ECh. 9.2 - Prob. 22ECh. 9.3 - Air Quality As a researcher for the EPA, you have...Ch. 9.3 - Classify each as independent or dependent samples....Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - Toy Assembly Test An educational researcher...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - For Exercises 2 through 12, perform each of these...Ch. 9.3 - Prob. 13ECCh. 9.4 - Smoking and Education You are researching the...Ch. 9.4 - Prob. 1ECh. 9.4 - Find p and q for each. a. n = 36, X = 20 b. n =...Ch. 9.4 - Prob. 3ECh. 9.4 - Find each X, given p. a. p = 0.24, n = 300 b. p =...Ch. 9.4 - Prob. 5ECh. 9.4 - Find p and q. a. X1 = 6, n1 = 15, X2 = 9, n2 = 15...Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - Leisure Time In a sample of 150 men, 132 said that...Ch. 9.4 - Prob. 9ECh. 9.4 - For Exercises 7 through 27, perform each of these...Ch. 9.4 - Prob. 11ECh. 9.4 - For Exercises 7 through 27, perform each of these...Ch. 9.4 - Prob. 13ECh. 9.4 - For Exercises 7 through 27, perform each of these...Ch. 9.4 - Prob. 15ECh. 9.4 - Smoking Survey National statistics show that 23%...Ch. 9.4 - For Exercises 7 through 27, perform each of these...Ch. 9.4 - For Exercises 7 through 27, perform each of these...Ch. 9.4 - Prob. 19ECh. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - For Exercises 7 through 27, perform these steps....Ch. 9.4 - Prob. 28ECCh. 9.5 - Automatic Transmissions Assume the following data...Ch. 9.5 - When one is computing the F test value, what...Ch. 9.5 - Why is the critical region always on the right...Ch. 9.5 - What are the two different degrees of freedom...Ch. 9.5 - What are the characteristics of the F...Ch. 9.5 - Prob. 5ECh. 9.5 - Using Table H, find the critical value for each....Ch. 9.5 - Prob. 7ECh. 9.5 - Using Table H, find the P-value interval for each...Ch. 9.5 - Prob. 9ECh. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - Prob. 13ECh. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - Prob. 17ECh. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - Prob. 21ECh. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9.5 - For Exercises 9 through 24, perform the following...Ch. 9 - For each exercise, perform these steps. Assume...Ch. 9 - Prob. 9.1.2RECh. 9 - Prob. 9.2.3RECh. 9 - Prob. 9.2.4RECh. 9 - For each exercise, perform these steps. Assume...Ch. 9 - For each exercise, perform these steps. Assume...Ch. 9 - High and Low Temperatures March is a month of...Ch. 9 - Testing After Review A statistics class was given...Ch. 9 - Lay Teachers in Religious Schools A study found a...Ch. 9 - Prob. 9.4.10RECh. 9 - Prob. 9.5.11RECh. 9 - Heights of World Famous Cathedrals The heights (in...Ch. 9 - Prob. 9.5.13RECh. 9 - Prob. 1DACh. 9 - Prob. 2DACh. 9 - Prob. 3DACh. 9 - Prob. 4DACh. 9 - Prob. 5DACh. 9 - Prob. 1CQCh. 9 - Prob. 2CQCh. 9 - Prob. 3CQCh. 9 - Prob. 4CQCh. 9 - Prob. 5CQCh. 9 - To test the equality of two proportions, you would...Ch. 9 - Prob. 7CQCh. 9 - Prob. 8CQCh. 9 - Complete these statements with the best answer. 9....Ch. 9 - Prob. 10CQCh. 9 - Prob. 11CQCh. 9 - Prob. 12CQCh. 9 - Prob. 13CQCh. 9 - Prob. 14CQCh. 9 - Prob. 15CQCh. 9 - Prob. 16CQCh. 9 - For these exercises, perform each of these steps....Ch. 9 - Prob. 18CQCh. 9 - Prob. 19CQCh. 9 - Mathematical Skills In an effort to improve the...Ch. 9 - Prob. 21CQCh. 9 - Prob. 22CQCh. 9 - Prob. 23CQCh. 9 - Prob. 24CQCh. 9 - Prob. 25CQ
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