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Graduation is the term is employed most often in the application of the actuarial statistics to denote procedures by which the set or group of observed probabilities is adjusted to give a appropriate basis for the inferences and the further practical calculations to be done.
An oil company thinks that there is a 60% chance that there is oil in the land they own. Before drilling they run a soil test. When there is oil in the ground, the soil test comes
Principal components analysis is a process for analysing multivariate data which transforms original variables into the new ones which are uncorrelated and account for decreasing
Cohort component method : A broadly used method or technique of forecasting the age- and sex-speci?c population to the upcoming years, in which the initial population is strati?ed
Kappa coefficient : The chance corrected index of the agreement between, for instance, judgements and diagnoses made by the two raters. Calculated as the ratio of the noticed exces
Link functions: The link function relates the linear predictor ηi to the expected value of the data. In classical linear models the mean and the linear predictor are identical
Bayesian inference : An approach to the inference based largely on Bayes' Theorem and comprising of the below stated principal steps: (1) Obtain the likelihood, f x q describing
Attitude scaling : The process of analysing the positions of the individuals on scales purporting to measure attitudes, for instance a liberal-conservative scale, ora risk-willingn
Cascadedparameters: A group of parameters which is interlinked and where selecting the value for the ?rst parameter affects the choice and option available in the subsequent param
Prevalence : The measure of the number of people in a population who have a certain disease at a given point in time. It c an be measured by two methods, as point prevalence and p
Imprecise probabilities is a n approach used by soft techniques in which uncertainty is represented by the closed, convex sets of probability distributions and the probability of
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