
Path To College Mathematics
1st Edition
ISBN: 9780134654409
Author: Martin-Gay, K. Elayn, 1955-
Publisher: Pearson,
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Question
Chapter D, Problem 1ES
To determine
The solution of the proportion
Expert Solution & Answer

Answer to Problem 1ES
The solution of the proportion
Explanation of Solution
Given Information:
The proportion is
Calculation:
Consider the proportion,
Multiply both the sides by 6, to get,
Hence, the solution of the proportion
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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
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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.
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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 D Solutions
Path To College Mathematics
Ch. D - Prob. 1ESCh. D - Prob. 2ESCh. D - Prob. 3ESCh. D - Prob. 4ESCh. D - Prob. 5ESCh. D - Prob. 6ESCh. D - Prob. 7ESCh. D - Prob. 8ESCh. D - Prob. 9ESCh. D - Prob. 10ES
Ch. D - Prob. 11ESCh. D - Prob. 12ESCh. D - Prob. 13ESCh. D - Prob. 14ESCh. D - Prob. 15ESCh. D - Prob. 16ESCh. D - Prob. 17ESCh. D - Prob. 18ESCh. D - Prob. 19ESCh. D - Prob. 20ESCh. D - Prob. 21ESCh. D - Prob. 22ESCh. D - Prob. 23ESCh. D - Prob. 24ESCh. D - Prob. 25ESCh. D - Prob. 26ESCh. D - Prob. 27ESCh. D - Prob. 28ESCh. D - Prob. 29ESCh. D - Prob. 30ESCh. D - Prob. 31ESCh. D - Prob. 32ESCh. D - Prob. 33ESCh. D - Prob. 34ESCh. D - Prob. 35ESCh. D - Prob. 36ESCh. D - Prob. 37ESCh. D - Prob. 38ESCh. D - Prob. 39ESCh. D - Prob. 40ESCh. D - Prob. 41ESCh. D - Prob. 42ESCh. D - Prob. 43ESCh. D - Prob. 44ESCh. D - Prob. 45ESCh. D - Prob. 46ESCh. D - Prob. 47ESCh. D - Prob. 48ES
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