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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.
The full and official name of the tables is Actuarial Tables with explanatory notes for use in Personal Injury and Fatal Accident Cases, but the unofficial name became common parlance following the Civil Evidence Act 1995, where this shorthand name was used as a subheading – Sir Michael Ogden QC having been the chairman of the Working Party ...
Rating Description A: Reliable No doubt about the source's authenticity, trustworthiness, or competency.History of complete reliability. B: Usually reliable Minor doubts. History of mostly valid informa
Credible regions are not unique, as any given probability distribution has an infinite number of -credible regions, i.e. regions of probability . For example, in the univariate case, there are multiple definitions for a suitable interval or region:
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]
CNN has been ordered to pay $5 million to Navy veteran Zachary Young and additional punitive damages for defamation, marking a shift in media standards and a decline in ratings.
Another example is the use of actuarial models to assess the risk of sex offense recidivism. Actuarial models and associated tables, such as the MnSOST-R, Static-99, and SORAG, have been used since the late 1990s to determine the likelihood that a sex offender will re-offend and thus whether he or she should be institutionalized or set free. [9]