
EBK CALCULUS FOR BUSINESS, ECONOMICS, L
14th Edition
ISBN: 9780134856667
Author: Stocker
Publisher: VST
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Chapter 9.3, Problem 52E
To determine
To find: The general solution of the equation
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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.
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 9 Solutions
EBK CALCULUS FOR BUSINESS, ECONOMICS, L
Ch. 9.1 - Show that y=Cx+1 is the general solution of the...Ch. 9.1 - Prob. 2MPCh. 9.1 - Prob. 3MPCh. 9.1 - Prob. 4MPCh. 9.1 - Prob. 5MPCh. 9.1 - Prob. 1EDCh. 9.1 - Prob. 2EDCh. 9.1 - Prob. 1ECh. 9.1 - Prob. 2ECh. 9.1 - Prob. 3E
Ch. 9.1 - Prob. 4ECh. 9.1 - Prob. 5ECh. 9.1 - Prob. 6ECh. 9.1 - Prob. 7ECh. 9.1 - Prob. 8ECh. 9.1 - In Problems 110, find the derivative. (If...Ch. 9.1 - Prob. 10ECh. 9.1 - Prob. 11ECh. 9.1 - In Problems 1120, show that the given function is...Ch. 9.1 - Prob. 13ECh. 9.1 - Prob. 14ECh. 9.1 - Prob. 15ECh. 9.1 - Prob. 16ECh. 9.1 - Prob. 17ECh. 9.1 - Prob. 18ECh. 9.1 - Prob. 19ECh. 9.1 - Prob. 20ECh. 9.1 - Prob. 21ECh. 9.1 - In Problems 2124, determine which of the slope...Ch. 9.1 - In Problems 2124, determine which of the slope...Ch. 9.1 - Prob. 24ECh. 9.1 - Prob. 25ECh. 9.1 - In Problems 2528, use the appropriate slope...Ch. 9.1 - Prob. 27ECh. 9.1 - Prob. 28ECh. 9.1 - In Problems 2938, show that the given function y...Ch. 9.1 - Prob. 30ECh. 9.1 - Prob. 31ECh. 9.1 - In Problems 2938, show that the given function y...Ch. 9.1 - Prob. 33ECh. 9.1 - Prob. 34ECh. 9.1 - Prob. 35ECh. 9.1 - Prob. 36ECh. 9.1 - Prob. 37ECh. 9.1 - Prob. 38ECh. 9.1 - Prob. 39ECh. 9.1 - Prob. 40ECh. 9.1 - Prob. 41ECh. 9.1 - Prob. 42ECh. 9.1 - Prob. 43ECh. 9.1 - If y is defined implicitly by the given equation,...Ch. 9.1 - Prob. 45ECh. 9.1 - Prob. 46ECh. 9.1 - Prob. 47ECh. 9.1 - Prob. 48ECh. 9.1 - Prob. 49ECh. 9.1 - Prob. 50ECh. 9.1 - Prob. 51ECh. 9.1 - Prob. 52ECh. 9.1 - Prob. 53ECh. 9.1 - Prob. 54ECh. 9.1 - Prob. 55ECh. 9.1 - In Problems 55 and 56, use the general solution y...Ch. 9.1 - Prob. 57ECh. 9.1 - Prob. 58ECh. 9.1 - In Problems 59 and 60, use window dimensions Xmin...Ch. 9.1 - Prob. 60ECh. 9.1 - Prob. 61ECh. 9.1 - Prob. 62ECh. 9.1 - Prob. 63ECh. 9.1 - Prob. 64ECh. 9.1 - Prob. 65ECh. 9.1 - Prob. 66ECh. 9.1 - Rumor spreadGompertz growth model. The rate of...Ch. 9.2 - Solve: y=4x3y2.Ch. 9.2 - Prob. 2MPCh. 9.2 - Repeat Example 3 if the mothballs lose half their...Ch. 9.2 - Prob. 4MPCh. 9.2 - Prob. 5MPCh. 9.2 - Prob. 1EDCh. 9.2 - Prob. 2EDCh. 9.2 - Prob. 1ECh. 9.2 - Prob. 2ECh. 9.2 - Prob. 3ECh. 9.2 - Prob. 4ECh. 9.2 - Prob. 5ECh. 9.2 - In Problems 18, find the most general...Ch. 9.2 - Prob. 7ECh. 9.2 - Prob. 8ECh. 9.2 - Prob. 9ECh. 9.2 - In Problems 912, write a differential equation...Ch. 9.2 - In Problems 912, write a differential equation...Ch. 9.2 - Prob. 12ECh. 9.2 - Prob. 13ECh. 9.2 - Prob. 14ECh. 9.2 - Prob. 15ECh. 9.2 - Prob. 16ECh. 9.2 - Prob. 17ECh. 9.2 - Prob. 18ECh. 9.2 - Prob. 19ECh. 9.2 - Prob. 20ECh. 9.2 - Prob. 21ECh. 9.2 - In Problems 2130, find the general solution for...Ch. 9.2 - Prob. 23ECh. 9.2 - Prob. 24ECh. 9.2 - Prob. 25ECh. 9.2 - In Problems 2130, find the general solution for...Ch. 9.2 - Prob. 27ECh. 9.2 - Prob. 28ECh. 9.2 - In Problems 2130, find the general solution for...Ch. 9.2 - Prob. 30ECh. 9.2 - Prob. 31ECh. 9.2 - Prob. 32ECh. 9.2 - Prob. 33ECh. 9.2 - Prob. 34ECh. 9.2 - Prob. 35ECh. 9.2 - In Problems 3140, find the general solution for...Ch. 9.2 - Prob. 37ECh. 9.2 - Prob. 38ECh. 9.2 - Prob. 39ECh. 9.2 - In Problems 3140, find the general solution for...Ch. 9.2 - Prob. 41ECh. 9.2 - Prob. 42ECh. 9.2 - Prob. 43ECh. 9.2 - Prob. 44ECh. 9.2 - In Problems 4146, find the general solution for...Ch. 9.2 - Prob. 46ECh. 9.2 - Prob. 47ECh. 9.2 - Prob. 48ECh. 9.2 - Prob. 49ECh. 9.2 - Prob. 50ECh. 9.2 - Prob. 51ECh. 9.2 - Prob. 52ECh. 9.2 - Prob. 53ECh. 9.2 - Prob. 54ECh. 9.2 - Prob. 55ECh. 9.2 - Prob. 56ECh. 9.2 - Prob. 57ECh. 9.2 - Prob. 58ECh. 9.2 - Prob. 59ECh. 9.2 - Prob. 60ECh. 9.2 - Advertising. A company is using radio advertising...Ch. 9.2 - Prob. 62ECh. 9.2 - Prob. 63ECh. 9.2 - Prob. 64ECh. 9.2 - Prob. 65ECh. 9.2 - Prob. 66ECh. 9.2 - Prob. 67ECh. 9.2 - Prob. 68ECh. 9.2 - Prob. 69ECh. 9.2 - Prob. 70ECh. 9.2 - Prob. 71ECh. 9.2 - Prob. 72ECh. 9.2 - Newtons law of cooling states that the rate of...Ch. 9.2 - Prob. 74ECh. 9.2 - Population growth. A culture of bacteria is...Ch. 9.2 - Prob. 76ECh. 9.2 - Prob. 77ECh. 9.2 - Prob. 78ECh. 9.2 - Prob. 79ECh. 9.2 - Prob. 80ECh. 9.2 - Prob. 81ECh. 9.2 - Learning. The number of words per minute. N, a...Ch. 9.2 - Prob. 83ECh. 9.3 - Solve:xy+3y=4x.Ch. 9.3 - Prob. 2MPCh. 9.3 - Repeat Example 3 if the account earns 5%...Ch. 9.3 - If D = 70 + 2p(t) + 2p(t), S = 30 + 6p(t) + 3p(t)....Ch. 9.3 - Repeat Example 5 if water is released from the...Ch. 9.3 - Prob. 1EDCh. 9.3 - Prob. 2EDCh. 9.3 - Prob. 1ECh. 9.3 - Prob. 2ECh. 9.3 - Prob. 3ECh. 9.3 - Prob. 4ECh. 9.3 - Prob. 5ECh. 9.3 - Prob. 6ECh. 9.3 - Prob. 7ECh. 9.3 - Prob. 8ECh. 9.3 - Prob. 9ECh. 9.3 - Prob. 10ECh. 9.3 - Prob. 11ECh. 9.3 - Prob. 12ECh. 9.3 - Prob. 13ECh. 9.3 - Prob. 14ECh. 9.3 - Prob. 15ECh. 9.3 - Prob. 16ECh. 9.3 - Prob. 17ECh. 9.3 - Prob. 18ECh. 9.3 - Prob. 19ECh. 9.3 - Prob. 20ECh. 9.3 - Prob. 21ECh. 9.3 - Prob. 22ECh. 9.3 - Prob. 23ECh. 9.3 - In Problems 2334, find the integrating factor, the...Ch. 9.3 - Prob. 25ECh. 9.3 - In Problems 2334, find the integrating factor, the...Ch. 9.3 - Prob. 27ECh. 9.3 - Prob. 28ECh. 9.3 - In Problems 2334, find the integrating factor, the...Ch. 9.3 - Prob. 30ECh. 9.3 - Prob. 31ECh. 9.3 - Prob. 32ECh. 9.3 - Prob. 33ECh. 9.3 - In Problems 2334, find the integrating factor, the...Ch. 9.3 - Prob. 35ECh. 9.3 - Prob. 36ECh. 9.3 - Prob. 37ECh. 9.3 - Prob. 38ECh. 9.3 - In Problems 3514, find the integrating factor fix...Ch. 9.3 - In Problems 3514, find the integrating factor fix...Ch. 9.3 - Prob. 41ECh. 9.3 - Prob. 42ECh. 9.3 - Prob. 43ECh. 9.3 - Prob. 44ECh. 9.3 - Prob. 45ECh. 9.3 - Prob. 46ECh. 9.3 - Prob. 47ECh. 9.3 - Prob. 48ECh. 9.3 - Prob. 49ECh. 9.3 - Prob. 50ECh. 9.3 - Prob. 51ECh. 9.3 - Prob. 52ECh. 9.3 - Prob. 53ECh. 9.3 - Prob. 54ECh. 9.3 - Prob. 55ECh. 9.3 - Prob. 56ECh. 9.3 - Prob. 57ECh. 9.3 - Prob. 58ECh. 9.3 - Prob. 59ECh. 9.3 - Prob. 60ECh. 9.3 - Prob. 61ECh. 9.3 - Prob. 62ECh. 9.3 - Prob. 63ECh. 9.3 - Prob. 64ECh. 9.3 - Prob. 65ECh. 9.3 - Prob. 66ECh. 9.3 - Supply-demand. The supply S and demand D for a...Ch. 9.3 - Prob. 68ECh. 9.3 - Pollution. A 1,000-gallon holding tank contains...Ch. 9.3 - Pollution. Rework Problem 69 if water is entering...Ch. 9.3 - Pollution. Rework Problem 69 if water is entering...Ch. 9.3 - Prob. 72ECh. 9.3 - Pollution. Refer to Problem 69. When will the tank...Ch. 9.3 - Prob. 74ECh. 9.3 - Prob. 75ECh. 9.3 - Prob. 76ECh. 9.3 - Prob. 77ECh. 9.3 - In an article in the College Mathematics Journal...Ch. 9.3 - Prob. 79ECh. 9.3 - In 1960, William K. Estes proposed the following...Ch. 9 - In Problems 1 and 2, show that the given function...Ch. 9 - In Problems 1 and 2, show that the given function...Ch. 9 - In Problems 3 and 4, determine which of the...Ch. 9 - In Problems 3 and 4, determine which of the...Ch. 9 - In Problems 5 and 6, use the appropriate slope...Ch. 9 - In Problems 5 and 6, use the appropriate slope...Ch. 9 - In Problems 7 and 8, write a differential equation...Ch. 9 - In Problems 7 and 8, write a differential equation...Ch. 9 - In Problems 9 and 10, describe in words the rate...Ch. 9 - In Problems 9 and 10, describe in words the rate...Ch. 9 - In Problems 1116, determine whether the...Ch. 9 - In Problems 1116, determine whether the...Ch. 9 - In Problems 1116, determine whether the...Ch. 9 - In Problems 1116, determine whether the...Ch. 9 - In Problems 1116, determine whether the...Ch. 9 - Prob. 16RECh. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems 1724, find the general solution....Ch. 9 - Prob. 23RECh. 9 - In Problems 1724, find the general solution....Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - In Problems, 2532, find the particular solution...Ch. 9 - Solve the following differential equation two...Ch. 9 - Give an example of an equation that can be solved...Ch. 9 - Prob. 35RECh. 9 - Prob. 36RECh. 9 - Prob. 37RECh. 9 - Prob. 38RECh. 9 - Prob. 39RECh. 9 - Prob. 40RECh. 9 - Prob. 41RECh. 9 - Prob. 42RECh. 9 - Prob. 43RECh. 9 - Prob. 44RECh. 9 - Prob. 45RECh. 9 - Prob. 46RECh. 9 - Prob. 47RECh. 9 - Rumor spread. A single individual starts a rumor...
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