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Loss Models: From Data To Decisions (Wiley Series In Probability And Statistics)-new
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A Modern Practical Guide To Building And Using Actuarial Models.Loss Models: From Data To Decisions Is Organized Around The Principle That Actuaries Build Models In Order To Analyze Risks And Make Decisions About Managing The Risks Based On Conclusions Drawn From The Analysis. In Practice, One Begins With Data And Ends With A Business Decision. The Book Flows Logically From This Principle. It Begins With A Framework For Model Building And A Description Of Frequency And Severity Loss Data Typically Available To Actuaries. Parametric Models Are Emphasized Throughout.The Frequency And Severity Models Are Used In Building Aggregate Loss Models, In Credibilitybased Pricing Models, And In Loss Analysis Over Multiple Time Periods.Designed As Both An Educational Text As Well As A Professional Reference, Loss Models: Assumes Little Prior Knowledge Of Insurance Systems Features Many Fascinating Examples Taken From Insurance Files Contains A Major Instructive Case Study Continued Through Each Chapter Covers The Classical Areas Of Risk Theory And Loss Distributions Gives A Practical But Rigorous Treatment Of Modern Credibility Theory Uses Standard Statistical Concepts, Methods, And Notation Provides Modern Computational Algorithms For Implementing Methods Includes Free Companion Software Available From An Ftp Site Deals With Many Topics On Cas 4B And Soa 151 And 152 Actuarial Exams Includes Many Exercises Based On Past Cas And Soa Exams.
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- Q: How many pages does the book have? A: This book has six hundred seventy-two pages. It provides a comprehensive overview of building and using actuarial models.
- Q: What is the binding type of this book? A: The book is bound in hardcover. This makes it durable and suitable for repeated use as a reference.
- Q: What are the dimensions of the book? A: The book measures six point three inches in length, one point thirty-eight inches in width, and nine point sixty-one inches in height. These dimensions make it easy to handle and store.
- Q: How do I use this book for studying? A: You can use this book as both an educational text and a professional reference. It includes exercises and a case study throughout, which can enhance your understanding of actuarial models.
- Q: Is this book suitable for beginners? A: Yes, the book assumes little prior knowledge of insurance systems. It is designed to help beginners grasp the concepts of actuarial modeling effectively.
- Q: Can I use this book for exam preparation? A: Yes, this book includes many exercises based on past CAS and SOA exams. It covers topics relevant to CAS 4B and SOA 151 and 152 actuarial exams.
- Q: How should I care for this book? A: Keep the book in a dry, cool place to prevent damage. Avoid exposing it to direct sunlight for prolonged periods.
- Q: Does the book come with any additional resources? A: Yes, it includes free companion software available from an FTP site. This can enhance your learning experience.
- Q: What should I do if the book arrives damaged? A: If the book arrives damaged, contact the seller immediately for a return or exchange. Ensure to keep the original packaging for a smoother process.
- Q: Is this book safe for kids? A: The book is intended for adult audiences and those studying actuarial science. It may not be suitable for children due to its complex subject matter.
- Q: What topics are covered in this book? A: The book covers frequency and severity loss data, credibility-based pricing models, and modern credibility theory among other topics. It provides a thorough exploration of risk theory.
- Q: Who is the author of this book? A: The book is authored by Stuart A. Klugman. He is recognized for his expertise in actuarial science and risk management.
- Q: Does this book include case studies? A: Yes, it includes a major instructive case study that is continued through each chapter. This helps in applying theoretical concepts to practical scenarios.
- Q: What is the main focus of this book? A: The main focus is on building and using actuarial models to analyze risks and make informed decisions. It emphasizes practical applications throughout.
- Q: Is the book updated with modern methods? A: Yes, the book provides a practical but rigorous treatment of modern computational algorithms for implementing actuarial methods.