DEVELOP.MATH(3 VOLS) CUSTOM-W/MML <IC<
16th Edition
ISBN: 9781323235911
Author: BITTINGER
Publisher: Pearson Custom Publishing
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter A, Problem 97ES
To determine
To fill: The blank provided in the statement, “
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
please show all the work
please show all the work
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 A Solutions
DEVELOP.MATH(3 VOLS) CUSTOM-W/MML <IC<
Ch. A - Use the unit below to measure the length of each...Ch. A - Prob. 2DECh. A - Prob. 3DECh. A - Prob. 4DECh. A - Prob. 5DECh. A - Prob. 6DECh. A - Prob. 7DECh. A - Prob. 8DECh. A - Prob. 9DECh. A - Prob. 10DE
Ch. A - Prob. 11DECh. A - Prob. 12DECh. A - Prob. 13DECh. A - Prob. 14DECh. A - Prob. 15DECh. A - Prob. 16DECh. A - Prob. 17DECh. A - Prob. 18DECh. A - Prob. 19DECh. A - Prob. 20DECh. A - Prob. 21DECh. A - Prob. 22DECh. A - Prob. 23DECh. A - Prob. 24DECh. A - Prob. 25DECh. A - Prob. 26DECh. A - Prob. 27DECh. A - Prob. 28DECh. A - Prob. 29DECh. A - Prob. 30DECh. A - Prob. 31DECh. A - Prob. 32DECh. A - Prob. 33DECh. A - Complete. Try to do this mentally using the...Ch. A - Prob. 35DECh. A - Prob. 36DECh. A - Prob. 37DECh. A - Prob. 38DECh. A - Prob. 39DECh. A - Prob. 40DECh. A - Prob. 1ESCh. A - Prob. 2ESCh. A - Prob. 3ESCh. A - Prob. 4ESCh. A - Prob. 5ESCh. A - Prob. 6ESCh. A - Prob. 7ESCh. A - Prob. 8ESCh. A - Prob. 9ESCh. A - Prob. 10ESCh. A - Prob. 11ESCh. A - Prob. 12ESCh. A - Prob. 13ESCh. A - Prob. 14ESCh. A - Prob. 15ESCh. A - Prob. 16ESCh. A - Prob. 17ESCh. A - Prob. 18ESCh. A - Prob. 19ESCh. A - Prob. 20ESCh. A - Prob. 21ESCh. A - Prob. 22ESCh. A - Prob. 23ESCh. A - Prob. 24ESCh. A - Prob. 25ESCh. A - Prob. 26ESCh. A - Prob. 27ESCh. A - Prob. 28ESCh. A - Prob. 29ESCh. A - Prob. 30ESCh. A - Prob. 31ESCh. A - Prob. 32ESCh. A - Prob. 33ESCh. A - Prob. 34ESCh. A - Prob. 35ESCh. A - Prob. 36ESCh. A - b Complete. Do as much as possible mentally. a....Ch. A - Prob. 38ESCh. A - Prob. 39ESCh. A - Prob. 40ESCh. A - Prob. 41ESCh. A - Prob. 42ESCh. A - Prob. 43ESCh. A - Prob. 44ESCh. A - Prob. 45ESCh. A - Prob. 46ESCh. A - Prob. 47ESCh. A - Prob. 48ESCh. A - Prob. 49ESCh. A - Prob. 50ESCh. A - Prob. 51ESCh. A - Prob. 52ESCh. A - Prob. 53ESCh. A - Prob. 54ESCh. A - Prob. 55ESCh. A - Prob. 56ESCh. A - Prob. 57ESCh. A - Prob. 58ESCh. A - Prob. 59ESCh. A - Prob. 60ESCh. A - Prob. 61ESCh. A - Prob. 62ESCh. A - Prob. 63ESCh. A - Prob. 64ESCh. A - Prob. 65ESCh. A - Prob. 66ESCh. A - Prob. 67ESCh. A - Prob. 68ESCh. A - Prob. 69ESCh. A - Prob. 70ESCh. A - Prob. 71ESCh. A - Prob. 72ESCh. A - Prob. 73ESCh. A - Prob. 74ESCh. A - Prob. 75ESCh. A - Prob. 76ESCh. A - Prob. 77ESCh. A - Prob. 78ESCh. A - Prob. 79ESCh. A - Prob. 80ESCh. A - Prob. 81ESCh. A - Prob. 82ESCh. A - Prob. 83ESCh. A - Prob. 84ESCh. A - Prob. 85ESCh. A - Prob. 86ESCh. A - Prob. 87ESCh. A - Prob. 88ESCh. A - Prob. 89ESCh. A - Prob. 90ESCh. A - Prob. 91ESCh. A - Prob. 92ESCh. A - Prob. 93ESCh. A - Prob. 94ESCh. A - Prob. 95ESCh. A - Prob. 96ESCh. A - Prob. 97ESCh. A - Prob. 98ESCh. A - Prob. 99ESCh. A - Prob. 100ESCh. A - Prob. 101ESCh. A - Prob. 102ESCh. A - Prob. 103ESCh. A - Prob. 104ESCh. A - Prob. 105ESCh. A - Prob. 106ESCh. A - Prob. 107ESCh. A - Prob. 108ESCh. A - Prob. 109ESCh. A - Prob. 110ESCh. A - Prob. 111ESCh. A - Prob. 112ESCh. A - Prob. 113ESCh. A - Prob. 114ESCh. A - Prob. 115ESCh. A - Prob. 116ES
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- A 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_forwardsurvey of 5050 young professionals found that they spent an average of $20.5620.56 when dining out, with a standard deviation of $11.4111.41. Can you conclude statistically that the population mean is greater than $2323? Use a 95% confidence interval. Question content area bottom Part 1 The 95% confidence interval is left bracket nothing comma nothing right bracketenter your response here, enter your response here. As $2323 is ▼ of the confidence interval, we ▼ can cannot conclude that the population mean is greater than $2323. (Use ascending order. Round to four decimal places as needed.)arrow_forward1. vector projection. Assume, ER1001 and you know the following: ||||=4, 7=-0.5.7. For each of the following, explicitly compute the value. འབ (a) (b) (c) (d) answer. Explicitly compute ||y7||. Explain your answer. Explicitly compute the cosine similarity of and y. Explain your Explicitly compute (x, y). Explain your answer. Find the projection of onto y and the projection of onto .arrow_forward
- A 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_forwardThe numbered disks shown are placed in a box and one disk is selected at random. Find the probability of selecting a 4, given that a green disk is selected. Find the probability of selecting a 4, given that a green disk is selected. (Type an integer or a simplified fraction.) green blue green green green blue green bluearrow_forwardPls help ASAParrow_forward
- The table shows the distribution, by age, of a random sample of 3160 moviegoers ages 12-74. If one moviegoer is randomly selected from this population, find the probability, expressed as a simplified fraction, that the moviegoer is not in the 65-74 age range. The probability is (Type an integer or a simplified fraction.) Age Distribution of Moviegoers Ages Number 12-24 1090 25-44 860 45-64 890 65-74 320arrow_forwardUse the spinner shown. It is equally probable that the pointer will land on any one of the six regions. If the pointer lands on a borderline, spin again. If the pointer is spun twice, find the probability that it will land on yellow and then yellow. Find the probability that the spinner will land on yellow and then yellow. The probability is (Type an integer or a simplified fraction.) Green Red Gray Red Blue Yellow Q ☑arrow_forwardUse the spinner shown to answer the question. Assume that it is equally probable that the pointer will land on any one of the colored regions. If the pointer lands on a borderline, spin again. If the spinner is spun once, find the probability that the pointer lands in a region that is red or green. The probability that the pointer lands in a region that is red or green is (Type an integer or a simplified fraction.) green red green red yellow redarrow_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_forward2. Answer the following questions using vectors u and v. --0-0-0 = find the the cosine similarity and the angle between u and v. འརྒྱ (a) (b) find the scalar projection of u onto v. (c) find the projection of u onto v. (d) (e) (f) find the scalar projection of onto u. find the projection of u onto u. find the projection of u onto and the projection of onto . (Hint: find the inner product and verify the orthogonality)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Mathematics For Machine TechnologyAdvanced MathISBN:9781337798310Author:Peterson, John.Publisher:Cengage Learning,
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Mathematics For Machine Technology
Advanced Math
ISBN:9781337798310
Author:Peterson, John.
Publisher:Cengage Learning,
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Trigonometric Ratios; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=9-eHMMpQC2k;License: Standard YouTube License, CC-BY