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Credibility theory is a branch of actuarial mathematics concerned with determining risk premiums. [1] To achieve this, it uses mathematical models in an effort to forecast the ( expected ) number of insurance claims based on past observations.
In credibility theory, a branch of study in actuarial science, the Bühlmann model is a random effects model (or "variance components model" or hierarchical linear model) used to determine the appropriate premium for a group of insurance contracts. The model is named after Hans Bühlmann who first published a description in 1967.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
Chemical laboratory apparatus: for Chemical tests: Chromatography: One of the basic modern "chemical examination" of body fluids and viscera;video links for details •Gas Chromatography or Gas Liquid Chromatography(GLC)-do- •Planar Chromatography-do- •Paper Chromatography-do- •Thin layer chromatography-do- •Affinity chromatography-do-
An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. [1] These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. [2]
General laboratory stands, racks, filter paper, reagents, etc. Induction coils: as a source of high voltage electricity Cathode ray oscilloscope ' Recording kymograph: historically, used in human or animal experiments to measure and record data Long extension kymograph: historically, used in or human animal experiments to measure and record data
Laboratory quality control is designed to detect, reduce, and correct deficiencies in a laboratory's internal analytical process prior to the release of patient results, in order to improve the quality of the results reported by the laboratory. Quality control (QC) is a measure of precision, or how well the measurement system reproduces the ...
That is, if portfolio always has better values than portfolio under almost all scenarios then the risk of should be less than the risk of . [2] E.g. If is an in the money call option (or otherwise) on a stock, and is also an in the money call option with a lower strike price.