STAT 414
SOLUTIONS TO EXAM 1
FALL, 2015
Your name (in BLOCK letters): SOLUTIONS
Your signature:
Your PSU ID Number:
Instructions:
1. Turn o all electronic devices! Any student whose electronic device rings, vibrates, or
makes any sound during the exam sha

Excel Tips revised 9/2/2015 (free on-line training at Lynda.psu.edu)
Excel Calculation Tips
Placing a $ sign in front of the column or row in a cell reference means it wont change when you copy a formula,
thru dragging it down or just plain copying. You

BINOMIAL; NORMAL APPROXIMATION; MONTE CARLO FORECASTING 9/4/2015
Pr Die
Pr Live
10%
90%
=q
=p
Binomial K =
Binomial CDF
Binomial PMF
By Formula
Label variables in Name Box
N
100
Mean
10
Variance
9
Stan Dev
3.0
SD/Mean
0.30
Coef of variation
PMF: N(k + .5)

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10 7 15 RM 497C Exam on P FM and Excel

R M 497C Homework #1 due in Drop Box before first class
Last Name
First
1. Read my RM 497C syllabus and bring to class. It is in ANGELs Lessons tab. Refer to it for the following
True/False questions. Hand write answers on the left side of this HW page an

10/7/15 RM 497C Exam on P, FM, and Excel
_
Last Name
_
First name
Provide as much as you can, as I give partial credit. All problems are 3 points unless otherwise indicated.
1. In a bag there is one $1 bill, one $2 bills, and two $3 dollar bills. You get

R M 497C Club Website Homework #2
Last Name
First
1. Review the Actuarial Science Clubs Home website and answer the following questions:
a. What day and time is the Forum for new actuarial students? Please attend it.
b. What day and time is the first Info

HW 2 Conditional Probability and Independence
Show all work and all intermediate steps for all problems.
1. A researcher is studying nut allergies in children using a sample of 852 patients who have
some sort of allergy. 375 of these patients are allergic