{"product_id":"financial-and-actuarial-statistics-1","title":"Financial and Actuarial Statistics","description":"\u003cp\u003e\u003cem\u003eUnderstand Up-to-Date Statistical Techniques for Financial and Actuarial Applications\u003c\/em\u003e\u003c\/p\u003e\u003cp\u003eSince the first edition was published, statistical techniques, such as reliability measurement, simulation, regression, and Markov chain modeling, have become more prominent in the financial and actuarial industries. Consequently, practitioners and students must acquire strong mathematical and statistical backgrounds in order to have successful careers.\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eFinancial and Actuarial Statistics: An Introduction, Second Edition\u003c\/strong\u003e enables readers to obtain the necessary mathematical and statistical background. It also advances the application and theory of statistics in modern financial and actuarial modeling. Like its predecessor, this second edition considers financial and actuarial modeling from a statistical point of view while adding a substantial amount of new material.\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eNew to the Second Edition\u003c\/strong\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cp\u003e \u003c\/p\u003e \u003c\/li\u003e\n\u003cli\u003eNomenclature and notations standard to the actuarial field\u003c\/li\u003e\n\u003cli\u003eExcel exercises with solutions, which demonstrate how to use Excel functions for statistical and actuarial computations\u003c\/li\u003e\n\u003cli\u003eProblems dealing with standard probability and statistics theory, along with detailed equation links \u003c\/li\u003e\n\u003cli\u003eA chapter on Markov chains and actuarial applications \u003c\/li\u003e\n\u003cli\u003eExpanded discussions of simulation techniques and applications, such as investment pricing \u003c\/li\u003e\n\u003cli\u003eSections on the maximum likelihood approach to parameter estimation as well as asymptotic applications \u003c\/li\u003e\n\u003cli\u003eDiscussions of diagnostic procedures for nonnegative random variables and Pareto, lognormal, Weibull, and left truncated distributions\u003c\/li\u003e\n\u003cli\u003eExpanded material on surplus models and ruin computations \u003c\/li\u003e\n\u003cli\u003eDiscussions of nonparametric prediction intervals, option pricing diagnostics, variance of the loss function associated with standard actuarial models, and Gompertz and Makeham distributions \u003c\/li\u003e\n\u003cli\u003eSections on the concept of actuarial statistics for a collection of stochastic status models\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003eThe book presents a unified approach to both financial and actuarial modeling through the use of general status structures. The authors define future time-dependent financial actions in terms of a status structure that may be either deterministic or stochastic. They show how deterministic status structures lead to classical interest and annuity models, investment pricing models, and aggregate claim models. They also employ stochastic status structures to develop financial and actuarial models, such as surplus models, life insurance, and life annuity models.\u003c\/p\u003e","brand":"Taylor \u0026 Francis Ltd","offers":[{"title":"Default Title","offer_id":54262106194264,"sku":"9781420085808","price":137.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781420085808_d7014c35-7472-4b9f-a568-eb59c6800ea7.jpg?v=1779338725","url":"https:\/\/agendabookshop.com\/products\/financial-and-actuarial-statistics-1","provider":"Agenda Bookshop","version":"1.0","type":"link"}