Bundle: Understanding Basic Statistics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Brase/Brase's Understanding Basic Statistics, ... for Peck's Statistics: Learning from Data
7th Edition
ISBN: 9781305787612
Author: Charles Henry Brase, Corrinne Pellillo Brase
Publisher: Cengage Learning
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Chapter 7, Problem 23CR
Basic Computation: ˆp Distribution Suppose we have a binomial distribution with n = 24 trials and probability of success p = 0.4 on each trial. The sample proportion of successes is ˆp=r/n.
(a) Is it appropriate to approximate the p distribution with a
(b) What are the values of μˆp and σˆp.?
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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.
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…
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Chapter 7 Solutions
Bundle: Understanding Basic Statistics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Brase/Brase's Understanding Basic Statistics, ... for Peck's Statistics: Learning from Data
Ch. 7.1 - Statistical Literacy Which, if any, of the curves...Ch. 7.1 - Statistical Literacy Look at the normal curve in...Ch. 7.1 - Critical Thinking Look at the two normal curves in...Ch. 7.1 - Critical Thinking Sketch a normal curve (a) with...Ch. 7.1 - Basic Computation: Empirical Rule What percentage...Ch. 7.1 - Basic Computation: Empirical Rule What percentage...Ch. 7.1 - Distribution: Heights of Coeds Assuming that the...Ch. 7.1 - Distribution: Rhode Island Red Chicks The...Ch. 7.1 - Archaeology: Tree Rings At Burnt Mesa Pueblo,...Ch. 7.1 - Vending Machine: Soft Drinks A vending machine...
Ch. 7.1 - Pain Management: Laser Therapy Effect of...Ch. 7.1 - Expand Your knowledge: Continuous Uniform...Ch. 7.1 - Unifrom Distribution: Measurement Errors...Ch. 7.2 - Statistical Literacy What does a standard score...Ch. 7.2 - Statistical Literacy Does a raw score less than...Ch. 7.2 - Statistical Literacy What is the value of the...Ch. 7.2 - Statistical Literacy What are the values of the...Ch. 7.2 - Basic Computation: z Score and Raw Score A normal...Ch. 7.2 - Basic Computation: z Score and Raw Score A normal...Ch. 7.2 - Critical Thinking Consider the following scores:...Ch. 7.2 - Critical Thinking Raul received a score of 80 on a...Ch. 7.2 - z Scores: First Aid Course The college physical...Ch. 7.2 - z Scores: Fawns Fawns between 1 and 5 months old...Ch. 7.2 - Prob. 11PCh. 7.2 - Normal Curve: Tree Rings Tree-ring dates were used...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Prob. 22PCh. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Areas Under the...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.2 - Basic Computation: Finding Probabilities In...Ch. 7.3 - Statistical Literacy Consider a normal...Ch. 7.3 - Statistical Literacy Suppose 5% of the area under...Ch. 7.3 - Statistical Literacy Suppose 5% of the area under...Ch. 7.3 - Critical Thinking: Normality Consider the...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find Probabilities In Problems...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Basic Computation: Find zValues In Problems 15-24,...Ch. 7.3 - Medical: Blood Glucose A person's blood glucose...Ch. 7.3 - Medical: Blood Protoplasm Porphyrin is a pigment...Ch. 7.3 - 27 Archaeology: Hopi Village Thickness...Ch. 7.3 - Law Enforcement: Police Response Time Police...Ch. 7.3 - Guarantee: Batteries Quick Start Company makes...Ch. 7.3 - Guarantee: Watches Accrotime is a manufacturer of...Ch. 7.3 - Expand Your Knowledge: Estimating the Standard...Ch. 7.3 - Estimating the Standard Deviation: Refrigerator...Ch. 7.3 - Estimating the Standard Deviation: Veterinary...Ch. 7.3 - Estimating the Standard Deviation: Veterinary...Ch. 7.3 - Insurance: Satellites A relay microchip in a...Ch. 7.4 - Statistical Literacy What is a population? Give...Ch. 7.4 - Statistical Literac y What is a random sample from...Ch. 7.4 - Statistical Literacy What is a population...Ch. 7.4 - Statistical Literacy What is a sample statistic?...Ch. 7.4 - Statistical Literacy What is the meaning of the...Ch. 7.4 - Statistical Literacy What is a sampling...Ch. 7.4 - Critical Thinking How do frequency tables,...Ch. 7.4 - Critical Thinking How can relative frequencies be...Ch. 7.4 - Critical Thinking Give an example of a specific...Ch. 7.5 - Statistical Literacy What is the standard error of...Ch. 7.5 - Statistical Literacy What is the standard...Ch. 7.5 - Statistical Literacy List two unbiased estimators...Ch. 7.5 - Statistical Literacy Describe how the variability...Ch. 7.5 - Basic Computation: Central Limit Theorem Suppose x...Ch. 7.5 - Basic Computation: Central Limit Theorem Suppose x...Ch. 7.5 - Prob. 7PCh. 7.5 - Critical Thinking Suppose x has a distribution...Ch. 7.5 - Critical Thinking Consider two x distributions...Ch. 7.5 - Critical Thinking Consider an x distribution with...Ch. 7.5 - Critical Thinking Suppose x has a distribution...Ch. 7.5 - Critical Thinking Suppose an x distribution has...Ch. 7.5 - Coal: Automatic Loader Coal is carried from a mine...Ch. 7.5 - Vital Statistics: Heights of Men The heights of...Ch. 7.5 - Medical: Blood Glucose Let x be a random variable...Ch. 7.5 - Medical: White Blood Cells Let x be a random...Ch. 7.5 - Wildlife: Deer Let x be a random variable that...Ch. 7.5 - Focus Problem: Impulse Buying Let x represent the...Ch. 7.5 - Finance: Templeton Funds Templeton world is a...Ch. 7.5 - Finance: European Growth Fund A European growth...Ch. 7.6 - Statistical Literacy Binomial probability...Ch. 7.6 - Statistical Literacy When we use a normal...Ch. 7.6 - Basic Computation: Normal Approximation to a...Ch. 7.6 - Basic Computation: Normal Approximation to a...Ch. 7.6 - Critical Thinking You need to compute the...Ch. 7.6 - Critical Thinking Consider a binomial experiment...Ch. 7.6 - In the following problems, check that it is...Ch. 7.6 - Insurance: Claims Do you try to pad an insurance...Ch. 7.6 - Longevity: 90th Birthday It is estimated that 3.5%...Ch. 7.6 - Fishing: Billfish Ocean fishing for billfish is...Ch. 7.6 - Grocery Stores: New ProductsThe Denver Post slated...Ch. 7.6 - Crime: Murder What are the chances that a person...Ch. 7.6 - Supermarkets: Free Samples Do you take the free...Ch. 7.6 - Ice Cream: Flavors Whats your favorite ice cream...Ch. 7.6 - Airline Flights: No-Shows Based on long...Ch. 7.6 - 16. General: Approximations We have studied the...Ch. 7.6 - Statistical Literacy Under what conditions is it...Ch. 7.6 - Statistical Literacy What is the formula for the...Ch. 7.6 - Statistical Literacy Is p an unbiased estimator...Ch. 7.6 - Basic Computation: p Distribution Suppose we have...Ch. 7.6 - Basic Computation: p Distribution Suppose we have...Ch. 7 - Statistical Literacy Describe a normal probability...Ch. 7 - Statistical Literacy According to the empirical...Ch. 7 - Statistical Literacy Random sample of size 9 is...Ch. 7 - Statistical Literacy Can a normal distribution...Ch. 7 - Statistical Literacy What characteristic of a...Ch. 7 - Statistical Liter acy For a normal distribution,...Ch. 7 - Statistical Literacy Give the formula for the...Ch. 7 - Statistical Literacy Give the formula for the...Ch. 7 - Critical Thinking Let x be a random variable...Ch. 7 - Critical Thinking If x has a normal distribution...Ch. 7 - Basic Computation: Probability Given that x is a...Ch. 7 - Basic Computation: Probability Given that x is a...Ch. 7 - Basic Computation: Inverse Normal Find z such that...Ch. 7 - Basic Computation: Inverse Normal Find z such that...Ch. 7 - Medical: Blood Type Blood type AB is found in only...Ch. 7 - Customer Complaints: Time The Customer Service...Ch. 7 - 21. Recycling: Aluminum Cans One environmental...Ch. 7 - Prob. 18CRCh. 7 - Guarantee: Package Delivery Express Courier...Ch. 7 - Drugs: Effects A new muscle relaxant is available....Ch. 7 - Psychology: IQ Scores Assume that IQ scores are...Ch. 7 - Hatchery Fish: Length A large tank of fish from a...Ch. 7 - Basic Computation: p Distribution Suppose we have...Ch. 7 - Green Behavior: Purchasing Habits A recent Harris...Ch. 7 - Iris setosa is a beautiful wildflower that is...Ch. 7 - If you look up the word empirical in a dictionary,...Ch. 7 - Why are standard z values so important? Is it true...Ch. 7 - Most people would agree that increased information...Ch. 7 - In a way, the central limit theorem can be thought...
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