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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.
Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations b
Collector's problem : A problem which derives from the schemes in which packets of a particular brand of coffe, cereal etc., are sold with coupons, cards, or other tokens. There ar
Compound symmetry : The property possessed by the variance-covariance matrix of the set of multivariate data when its chief diagonal elements are equal to each other, and in additi
Suppose we estimate the following model: Passengersi = 1 + 2Populationi + ui a) Generate a scatter plot with passengers on the vertical axis and population on the horizonta
A procedure whereby the collection of multiple sample units are combined in their entirety or in part, to form the new sample. One or more succeeding measurements are taken on the
Hosmer-Lemeshow test is a goodness-of-fit test taken in use in logistic regression, particularly when there are regular covariates. Units are spitted into deciles based on predict
Graphical deception : Statistical graphics which are not as honest as they should be. It is relatively simple. To mislead the unwary with the graphical material. For instance, c
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
Atomistic fallacy : A fallacy which arises because of the association between two variables at the individual level might vary from the association between the same two variables m
A radically different approach of dealing with the uncertainty than the traditional probabilistic and the statistical methods. The necessary feature of the fuzzy set is a membershi
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