Understanding Basic Statistics
7th Edition
ISBN: 9781305254060
Author: Charles Henry Brase, Corrinne Pellillo Brase
Publisher: Cengage Learning
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Chapter 9.3, Problem 1P
Terminology Answer true or false. The margin of error when using
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Let X represent the full height of a certain species of tree. Assume that X has a normal probability distribution with mean 203.8 ft and standard deviation 43.8 ft.
You intend to measure a random sample of n = 211trees. The bell curve below represents the distribution of these sample means. The scale on the horizontal axis (each tick mark) is one standard error of the sampling distribution. Complete the indicated boxes, correct to two decimal places.
Image attached. I filled in the yellow boxes and am not sure why they are wrong. There are 3 yellow boxes filled in with values 206.82; 209.84; 212.86.
Could you please answer this question using excel.Thanks
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
Understanding Basic Statistics
Ch. 9.1 - Statistical Literacy Discuss each of the following...Ch. 9.1 - Statistical Literacy In a statistical test, we...Ch. 9.1 - Statistical Literacy If we fail to reject (i.e.,...Ch. 9.1 - Statistical Literacy If we reject the null...Ch. 9.1 - Statistical Literacy What terminology do we use...Ch. 9.1 - Statistical Literacy What terminology do we use...Ch. 9.1 - Statistical Literacy If the P-value in a...Ch. 9.1 - Statistical Literacy If the P-value in a...Ch. 9.1 - Statistical Literacy Suppose the P-value in a...Ch. 9.1 - Statistical Literacy Suppose the P-value in a...
Ch. 9.1 - Basic Computation: Setting Hypotheses Suppose you...Ch. 9.1 - Basic Computation: Setting Hypotheses Suppose you...Ch. 9.1 - Prob. 13PCh. 9.1 - Basic Computation: Find the Test Statistic....Ch. 9.1 - Veterinary Science: Colts The body weight of a...Ch. 9.1 - Marketing: Shopping Time How much customers buy is...Ch. 9.1 - Meteorology: StormsWeatherwise magazine is...Ch. 9.1 - Prob. 18PCh. 9.1 - For Problems 19-24, please provide the following...Ch. 9.1 - For Problems 19-24, please provide the following...Ch. 9.1 - For Problems 19-24, please provide the following...Ch. 9.1 - For Problems 19-24, please provide the following...Ch. 9.1 - For Problems 19-24, please provide the following...Ch. 9.1 - For Problems 19-24, please provide the following...Ch. 9.2 - Statistical Literacy For the same sample data and...Ch. 9.2 - Statistical Literacy To test for an x...Ch. 9.2 - Statistical Literacy When using the Students t...Ch. 9.2 - Critical Thinking Consider a test for . If the...Ch. 9.2 - Critical Thinking Consider a test for .If the...Ch. 9.2 - Critical Thinking If sample data is such that for...Ch. 9.2 - Basic Computation: P-value Corresponding to t...Ch. 9.2 - Basic Computation: P-value Corresponding to t...Ch. 9.2 - Basic Computation: Testing , Unknown A random...Ch. 9.2 - Basic Computation: Testing , Unknown A random...Ch. 9.2 - (c) Find (or estimate) the P-value. Sketch the...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Please provide the following information for...Ch. 9.2 - Critical Thinking: One-Tailed versus Two-Tailed...Ch. 9.2 - Expand Your Knowledge: Two Confidence Intervals...Ch. 9.2 - Prob. 25PCh. 9.2 - Prob. 26PCh. 9.2 - Prob. 27PCh. 9.2 - Prob. 28PCh. 9.2 - Critical Region Method: Student'st Solve Problem...Ch. 9.2 - Critical Region Method: Student'st Solve Problem...Ch. 9.3 - Terminology Answer true or false. The margin of...Ch. 9.3 - Prob. 2PCh. 9.3 - Prob. 3PCh. 9.3 - Terminology Answer true or false. The margin of...Ch. 9.3 - Basic Computation: Testingp A random sample of 30...Ch. 9.3 - Basic Computation: Testingp A random sample of 60...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21. please provide the following...Ch. 9.3 - For Problems 7-21. please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21. please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21. please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 7-21. please provide the following...Ch. 9.3 - For Problems 7-21, please provide the following...Ch. 9.3 - For Problems 721, please provide the following...Ch. 9.3 - For Problems 721, please provide the following...Ch. 9.3 - For Problems 721, please provide the following...Ch. 9.3 - Critical Region Method: Testing Proportions Solve...Ch. 9.3 - Prob. 23PCh. 9.3 - Prob. 24PCh. 9 - Statistical Literacy When testing how do we...Ch. 9 - Statistical Literacy What do we mean when we say a...Ch. 9 - Critical Thinking All other conditions being...Ch. 9 - Critical Thinking All other conditions being...Ch. 9 - Vehicles: Mileage Based on information in...Ch. 9 - Before you solve each problem below, first...Ch. 9 - Before you solve each problem below, first...Ch. 9 - Before you solve each problem below, first...Ch. 9 - Before you solve each problem below, first...Ch. 9 - Prob. 10CRCh. 9 - Before you solve each problem below, first...Ch. 9 - Before you solve each problem below, first...Ch. 9 - Prob. 1DHGPCh. 9 - Prob. 1LCWPCh. 9 - Prob. 2LCWPCh. 9 - The following statements are very important. Give...Ch. 9 - Prob. 4LCWPCh. 9 - As access to computers becomes more and more...Ch. 9 - Prob. 1CRPCh. 9 - Prob. 2CRPCh. 9 - Statistical Literacy Please give a careful but...Ch. 9 - Prob. 4CRPCh. 9 - Normal Approximation to the Binomial the majority...Ch. 9 - Prob. 6CRPCh. 9 - Sampling Distribution p Do you have a great deal...Ch. 9 - In Problems 8-12, please use the following steps...Ch. 9 - In Problems 8-12, please use the following steps...Ch. 9 - Prob. 10CRPCh. 9 - In Problems 8-12, please use the following steps...Ch. 9 - In Problems 8-12, please use the following steps...
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