Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This are exam related question, guide me through. Make it easy to follow. This all the information provided 1 The punctuality of trains has been

This are exam related question, guide me through. Make it easy to follow. This all the information provided

image text in transcribedimage text in transcribed
1 The punctuality of trains has been investigated by considering a number of train journeys. In the sample, 60% of trains had a destination of Manchester, 20% Edinburgh and 20% Birmingham. The probabilities of a train arriving late in Manchester, Edinburgh or Birmingham are 30%, 20% and 25%, respectively. A late train is picked at random from the group under consideration. Calculate the probability that it terminated in Manchester. 2 A random variable X has a Poisson distribution with mean 1, which is initially assumed to have a chi-squared distribution with 4 degrees of freedom. Determine the posterior distribution of 1 after observing a single value x of the random variable X . 3 The number of claims in a week arising from a certain group of insurance policies has a Poisson distribution with mean . Seven claims were incurred in the last week. The prior distribution of / is uniform on the integers 8, 10 and 12. (1) Determine the posterior distribution of #. Calculate the Bayesian estimate of / under squared error loss. 4 For the estimation of a population proportion p , a sample of n is taken and yields x successes. tyla A suitable prior distribution for p is beta with parameters 4 and 4. Show that the posterior distribution of p given x is beta and specify its parameters. [ Given that 11 successes are observed in a sample of size 25, calculate the Bayesian estimate under all-or-nothing (0/1) loss. [4] [Total 6] 5 The annual number of claims from a particular risk has a Poisson distribution with mean /. The tyle prior distribution for # has a gamma distribution with =2 and 1 =5. Claim numbers x1...., *, over the last n years have been recorded. (i) Show that the posterior distribution is gamma and determine its parameters. [3] (ii) Given that n = 8 and > x, =5 determine the Bayesian estimate for / under: 1=1 (a) squared-error loss (b) all-or-nothing loss (c) absolute error loss. [5] [Total 8]Which of the following is NOT a category in the Global Reporting Initiative (GRI) international standards on sustainability reporting? A economic B social C environmental D governance. [2] Explain the main weaknesses of historical cost accounts in times of high inflation. [5] Discuss the main limitations of ratio analysis. [5] Explain why the net asset value per share ratio and the current ratio might be misleading or meaningless as far as shareholders are concerned. [5] Explain why the profit margin ratio and the return on capital employed ratio might be misleading or meaningless as far as shareholders are concerned. [5)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Local Consumption And Global Environmental Impacts Accounting, Trade-offs And Sustainability

Authors: Kuishuang Feng, Klaus Hubacek, Yang Yu

1st Edition

1317577272, 9781317577270

More Books

Students also viewed these Economics questions

Question

=+a) Make a decision tree for these decisions.

Answered: 1 week ago