Statistics (13th Edition)
13th Edition
ISBN: 9780134080215
Author: James T. McClave, Terry T Sincich
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 9.4, Problem 55UP
To determine
State the conditions that are required for large sample inferences about
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values. Then calculate
it again, letting Row 2 represent the x-values and Row 1 the y-values. What effect does switching the variables have
on r?
Row 1
Row 2
13
149
25
36
41
60
62
78
S
205
122
195
173
133
197
24
Calculate the correlation coefficient r, letting Row 1 represent the x-values and Row 2 the y-values.
r=0.164 (Round to three decimal places as needed.)
S
24
The number of initial public offerings of stock issued in a 10-year period and the total proceeds of these offerings (in
millions) are shown in the table. The equation of the regression line is y = 47.109x+18,628.54. Complete parts a and b.
455 679 499 496 378 68
157
58 200
17,942|29,215 43,338 30,221 67,266 67,461 22,066 11,190 30,707| 27,569
Issues, x
Proceeds,
421
y
(a) Find the coefficient of determination and interpret the result.
(Round to three decimal places as needed.)
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
Statistics (13th Edition)
Ch. 9.2 - Describe the sampling distribution of when the...Ch. 9.2 - 8.4 To use the t-statistic to test for a...Ch. 9.2 - Prob. 3UPCh. 9.2 - Prob. 4UPCh. 9.2 - A confidence interval for is (–10, –4). Which of...Ch. 9.2 - 8.3 In order to compare the means of two...Ch. 9.2 - Independent random samples of 100 observations...Ch. 9.2 - Assume that . Calculate the pooled estimator of ...Ch. 9.2 - 8.7 Independent random samples from normal...Ch. 9.2 - Two independent random samples have been selected,...
Ch. 9.2 - 8.9 Independent random samples of n1 = 233 and n2...Ch. 9.2 - 8.11 Independent random samples selected from two...Ch. 9.2 - 8.14 Shared leadership in airplane crews. Human...Ch. 9.2 - 8.13 Last name and acquisition timing. The speed...Ch. 9.2 - Effectiveness of teaching software. The U.S....Ch. 9.2 - Cognitive impairment of schizophrenics. A study of...Ch. 9.2 - Children’s recall of TV ads. Children’s recall and...Ch. 9.2 - Comparing taste test rating protocols. Taste...Ch. 9.2 - Bulimia study. The “fear of negative evaluation”...Ch. 9.2 - 8.12 Lobster trap placement. Refer to the Bulletin...Ch. 9.2 - Shopping vehicle and judgment. Refer to the...Ch. 9.2 - Do video game players have superior visual...Ch. 9.2 - 8.16 Drug content assessment. Refer to Exercise...Ch. 9.2 - Hygiene of handshakes, high five and fist bumps....Ch. 9.2 - How do you choose to argue? In Thinking and...Ch. 9.2 - 8.21 Does rudeness really matter in the workplace?...Ch. 9.2 - Prob. 27ACICh. 9.2 - 8.22 Service without a smile. “Service with a...Ch. 9.2 - Prob. 29ACACh. 9.2 - Prob. 30ACACh. 9.3 - In a paired difference experiment, when should the...Ch. 9.3 - What are the advantages of using a paired...Ch. 9.3 - True or False. In a paired difference...Ch. 9.3 - What conditions are required for valid...Ch. 9.3 - A paired difference experiment yielded nd pairs of...Ch. 9.3 - A paired difference experiment produced the...Ch. 9.3 - 8.28 The data for a random sample of six paired...Ch. 9.3 - 8 29 The data for a random sample of 10 paired...Ch. 9.3 - A paired difference experiment yielded the...Ch. 9.3 - 8.31 Summer weight-loss camp. Camp Jump Start is...Ch. 9.3 - 8.34 Packaging of a children’s health food. Refer...Ch. 9.3 - 8.33 Twinned drill holes. A traditional method of...Ch. 9.3 - Healing potential of handling museum objects. Does...Ch. 9.3 - Laughter among deaf signers. The Journal of Deaf...Ch. 9.3 - Prob. 45ACBCh. 9.3 - Settlement of shallow foundations. Structures...Ch. 9.3 - 8.39 Solar energy generation along highways. The...Ch. 9.3 - Estimating well scale deposits. Scale deposits can...Ch. 9.3 - 8.38 Acidity of mouthwash. Acid has been found to...Ch. 9.3 - Prob. 50ACICh. 9.3 - Prob. 51ACICh. 9.3 - Prob. 52ACICh. 9.3 - Prob. 53ACICh. 9.3 - Prob. 54ACACh. 9.4 - What conditions are required for valid...Ch. 9.4 - Prob. 56UPCh. 9.4 - Prob. 57UPCh. 9.4 - Prob. 58LMCh. 9.4 - Prob. 59LMCh. 9.4 - Independent random samples, each containing 800...Ch. 9.4 - Prob. 61LMCh. 9.4 - Prob. 62LMCh. 9.4 - Prob. 63ACBCh. 9.4 - 8.104 Is steak your favorite barbeque food? July...Ch. 9.4 - Prob. 65ACBCh. 9.4 - Influencing performance in a serial addition task....Ch. 9.4 - Web survey response rates. Response rates to Web...Ch. 9.4 - Planning-habits survey. American Demographics...Ch. 9.4 - 8.55 Salmonella in produce. Salmonella infection...Ch. 9.4 - Prob. 70ACICh. 9.4 - 8.54 Traffic sign maintenance. The Federal Highway...Ch. 9.4 - Prob. 72ACICh. 9.4 - Prob. 73ACICh. 9.4 - Prob. 74ACICh. 9.4 - Prob. 75ACICh. 9.4 - Religious symbolism in TV commercials. Gonzaga...Ch. 9.4 - Prob. 77ACACh. 9.5 - In determining the sample sizes for estimating μ1...Ch. 9.5 - Prob. 79UPCh. 9.5 - Prob. 80UPCh. 9.5 - Prob. 81LMCh. 9.5 - Prob. 82LMCh. 9.5 - Prob. 83LMCh. 9.5 - Prob. 84LMCh. 9.5 - Prob. 85ACBCh. 9.5 - Prob. 86ACBCh. 9.5 - Prob. 87ACBCh. 9.5 - Prob. 88ACBCh. 9.5 - Prob. 89ACBCh. 9.5 - Prob. 90ACICh. 9.5 - Prob. 91ACICh. 9.5 - Cable-TV home shoppers. All cable television...Ch. 9.5 - Prob. 93ACICh. 9.5 - Prob. 94ACICh. 9.5 - Prob. 95ACICh. 9.6 - Describe the sampling distribution of (s1)2/(s2)2...Ch. 9.6 - Prob. 97UPCh. 9.6 - Prob. 98UPCh. 9.6 - Prob. 99UPCh. 9.6 - Prob. 100LMCh. 9.6 - Prob. 101LMCh. 9.6 - Prob. 102LMCh. 9.6 - Prob. 103LMCh. 9.6 - 8.77 Specify the appropriate rejection region for...Ch. 9.6 - Prob. 105LMCh. 9.6 - Prob. 106LMCh. 9.6 - Prob. 107ACBCh. 9.6 - Prob. 108ACBCh. 9.6 - Prob. 109ACBCh. 9.6 - Bulimia study. Refer to Exercise 9.19 (p. 449)....Ch. 9.6 - Prob. 111ACBCh. 9.6 - Hygiene of handshakes, high fives, and fist bumps....Ch. 9.6 - Prob. 113ACICh. 9.6 - Prob. 114ACICh. 9.6 - Prob. 115ACICh. 9.6 - Prob. 116ACICh. 9.6 - Prob. 117ACICh. 9 - Prob. 118UPCh. 9 - Prob. 119UPCh. 9 - 8.90 Two independent random samples were selected...Ch. 9 - 8.91 Independent random samples were selected from...Ch. 9 - 8.92 Independent random samples were selected from...Ch. 9 - Prob. 123LMCh. 9 - Prob. 124LMCh. 9 - Prob. 125ACBCh. 9 - 8.101 NHTSA new car crash tests. Refer to the...Ch. 9 - Prob. 127ACBCh. 9 - Prob. 128ACBCh. 9 - Prob. 129ACBCh. 9 - Prob. 130ACBCh. 9 - Prob. 131ACBCh. 9 - Prob. 132ACBCh. 9 - Prob. 133ACBCh. 9 - Prob. 134ACBCh. 9 - Prob. 135ACBCh. 9 - Prob. 136ACBCh. 9 - Prob. 137ACICh. 9 - Prob. 138ACICh. 9 - Prob. 139ACICh. 9 - Prob. 140ACICh. 9 - Prob. 141ACICh. 9 - Prob. 142ACICh. 9 - Prob. 143ACICh. 9 - Prob. 144ACICh. 9 - Prob. 145ACICh. 9 - Prob. 146ACICh. 9 - Prob. 147ACICh. 9 - Prob. 148ACICh. 9 - Prob. 149ACACh. 9 - Prob. 150ACACh. 9 - Prob. 151CTCCh. 9 - Detection of rigged school milk prices. Each year,...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Use the accompanying Grade Point Averages data to find 80%,85%, and 99%confidence intervals for the mean GPA. view the Grade Point Averages data. Gender College GPAFemale Arts and Sciences 3.21Male Engineering 3.87Female Health Science 3.85Male Engineering 3.20Female Nursing 3.40Male Engineering 3.01Female Nursing 3.48Female Nursing 3.26Female Arts and Sciences 3.50Male Engineering 3.00Female Arts and Sciences 3.13Female Nursing 3.34Female Nursing 3.67Female Education 3.45Female Engineering 3.17Female Health Science 3.28Female Nursing 3.25Male Engineering 3.72Female Arts and Sciences 2.68Female Nursing 3.40Female Health Science 3.76Female Arts and Sciences 3.72Female Education 3.44Female Arts and Sciences 3.61Female Education 3.29Female Nursing 3.20Female Education 3.80Female Business 3.26Male…arrow_forwardBusiness Discussarrow_forwardCould you please answer this question using excel. For 1a) I got 84.75 and for part 1b) I got 85.33 and was wondering if you could check if my answers were correct. Thanksarrow_forward
- What is one sample T-test? Give an example of business application of this test? What is Two-Sample T-Test. Give an example of business application of this test? .What is paired T-test. Give an example of business application of this test? What is one way ANOVA test. Give an example of business application of this test? 1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75. (Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you should use the two-tailed p-value from excel file to make a decision about rejecting or not rejecting null. If alternative is directional (e.g., μ < 75), you should use the lower-tailed p-value. For alternative hypothesis μ > 75, you should use the upper-tailed p-value.) H0 = H1= Conclusion: The p value from one sample t-test is _______. Since the two-tailed p-value…arrow_forwardUsing the accompanying Accounting Professionals data to answer the following questions. a. Find and interpret a 90% confidence interval for the mean years of service. b. Find and interpret a 90% confidence interval for the proportion of employees who have a graduate degree. view the Accounting Professionals data. Employee Years of Service Graduate Degree?1 26 Y2 8 N3 10 N4 6 N5 23 N6 5 N7 8 Y8 5 N9 26 N10 14 Y11 10 N12 8 Y13 7 Y14 27 N15 16 Y16 17 N17 21 N18 9 Y19 9 N20 9 N Question content area bottom Part 1 a. A 90% confidence interval for the mean years of service is (Use ascending order. Round to two decimal places as needed.)arrow_forwardIf, based on a sample size of 900,a political candidate finds that 509people would vote for him in a two-person race, what is the 95%confidence interval for his expected proportion of the vote? Would he be confident of winning based on this poll? Question content area bottom Part 1 A 9595% confidence interval for his expected proportion of the vote is (Use ascending order. Round to four decimal places as needed.)arrow_forward
- 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.arrow_forwardA population that is uniformly distributed between a=0and b=10 is given in sample sizes 50( ), 100( ), 250( ), and 500( ). Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below. Standard Error of the Mean =sigma/Root Complete the following table with the results from the sampling experiment. (Round to four decimal places as needed.) Sample Size Average of 8 Sample Means Standard Deviation of 8 Sample Means Standard Error 50 100 250 500arrow_forwardA survey of 250250 young professionals found that two dash thirdstwo-thirds of them use their cell phones primarily for e-mail. Can you conclude statistically that the population proportion who use cell phones primarily for e-mail is less than 0.720.72? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is left bracket nothing comma nothing right bracket0.60820.6082, 0.72510.7251. As 0.720.72 is within the limits of the confidence interval, we cannot conclude that the population proportion is less than 0.720.72. (Use ascending order. Round to four decimal places as needed.)arrow_forward
- I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardA survey of 250 young professionals found that two-thirds of them use their cell phones primarily for e-mail. Can you conclude statistically that the population proportion who use cell phones primarily for e-mail is less than 0.72? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is [ ], [ ] As 0.72 is ▼ above the upper limit within the limits below the lower limit of the confidence interval, we ▼ can cannot conclude that the population proportion is less than 0.72. (Use ascending order. Round to four decimal places as needed.)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Probability & Statistics (28 of 62) Basic Definitions and Symbols Summarized; Author: Michel van Biezen;https://www.youtube.com/watch?v=21V9WBJLAL8;License: Standard YouTube License, CC-BY
Introduction to Probability, Basic Overview - Sample Space, & Tree Diagrams; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=SkidyDQuupA;License: Standard YouTube License, CC-BY