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Collective risk models: The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when describing the aggregate claims or experience of the entire portfolio itself. To model entire claims of the collection of risks over the ?xed period of time in the future, the collective approach incorporates claim frequency and claim severity both components into the probability distribution of aggregate.
It is the technique used in the clinical trials when it is possible to make an acceptable place before an active treatment but not to make the two active treatments identical. In t
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Multiple correlation coefficient is the correlation among the observed values of dependent variable in the multiple regression, and the values predicted by estimated regression
Partial least squares is an alternative to the multiple regressions which, in spite of using the original q explanatory variables directly, constructs the new set of k regressor v
Literature controls : The patients with the disease of interest who have received, in the past, one of two treatments under the investigation, and for whom the results have been pu
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
The probability distribution which is a linear function of the number of component probability distributions. This type of distributions is used to model the populations thought to
This term is sometimes used for the analysis of data from the clinical trial in which treatments A and B are to be compared under the suppositions that the patients remain on their
4-13. Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previou
Machine learning is a term which literally means the ability of a machine to recognize patterns which have occurred repetitively and to improve its performance based on the past
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