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Compound Distributions 10 Aug 2013 | 07:11 pm
Let N be a counting random variable with probability function qn = Pr{N = n}, n = 0, 1, 2, . . .. Also, let {Xn, n = 1, 2, . . .} be a sequence of independent and identically distributed positive rand...
Comonotonicity 8 Aug 2013 | 10:22 pm
When dealing with stochastic orderings, actuarial risk theory generally focuses on single risks or sums of independent risks. Here, risks denote nonnegative random variables such as they occur in the ...
calculating CAGR from quarterly data 5 Aug 2013 | 09:00 pm
Hey everyone, If I had a set of quarterly data like this one: Q1 2010 250,000 Q2 2010 300,000 Q3 2010 165,000 Q4 2010 184,000 Q1 2011 220,200 Q2 2011 240,000 Q3 2011 230,000 Q4 2011 270,000 ...
Collective Risk Theory 4 Aug 2013 | 10:01 pm
In individual risk theory, we consider individual insurance policies in a portfolio and the claims produced by each policy which has its own characteristics; then aggregate claims are obtained by summ...
Collective Risk Models 25 Jul 2013 | 12:34 pm
In the individual risk model, the total claim size is simply the sum of the claims for each contract in the portfolio. Each contract retains its special characteristics, and the technique to compute t...
Claim Size Processes 22 Jul 2013 | 11:54 am
The claim size process is an important component in the insurance risk models. In the classical insurance risk models, the claim process is a sequence of i.i.d. random variables. Recently, many genera...
Writing Skills in Business 12 Jul 2013 | 09:17 pm
Business writing has seven purposes: 1. Convey information 2. Explain a situation 3. Request action 4. Seek information 5. Persuade 6. Reply to communication previously received 7. Convey an at...
Workers Compensation 12 Jul 2013 | 09:06 pm
Workers' compensation is a form of insurance that provides medical coverage and/or income replacement for employees who sustain injuries or suffer other disabilities because of workplace conditions or...
Work Groups 12 Jul 2013 | 08:55 pm
Competition in business today has created a desire and need for work groups. The delegation of duties is occurring through this redesign of the work process. The delegation process is in turn creating...
Word Processing 11 Jul 2013 | 09:04 pm
Word processing refers generally to the creation, editing, formatting, storage, and output of both printed and online or electronic documents. Word processing is undoubtedly the most-used business app...
