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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.
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The plot of the number of cases of the disease against the time period. A large and sudden increase corresponds to an epidemic. The example of this is shown in the figure drawn bel
Half-normal plot is a plot for diagnosing the model inadequacy or revealing the presence of outliers, in which the absolute values of, for instance, the residuals from the multipl
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The functions of the data and the parameters of interest which can be brought in use to conduct inference about the parameters when full distribution of the observations is unknown
An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bi
Human height growth curves : The growth of human height is, in common, remarkably regular, apart from the pubertal growth spurt. The satisfactory longitudinal development curve is
Kendall's tau statistics : The measures of the correlation between the two sets of rankings. Kendall's tau itself (τ) is the rank correlation coefficient based on number of inversi
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