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Applied Probability and Statistics | Applications in Actuarial Science and Enterprise Risk Management

Applications in Actuarial Science and Enterprise Risk Management

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Applied Probability and Statistics | Applications in Actuarial Science and Enterprise Risk Management | Page 2

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Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. Skip to secondary content. Newer posts →. The hazard rate function. July 8, 2011. In this post, we introduce the hazard rate function using the notions of non-homogeneous Poisson process. In a Poisson process, changes occur at a constant rate. A function of time. Such a counting process is called a non-homogeneous Poisson process. We discuss the survival probability models (t...

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The Negative Binomial Distribution | Applied Probability and Statistics

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Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. The Negative Binomial Distribution. July 28, 2011. The negative binomial distribution arises naturally from a probability experiment of performing a series of independent Bernoulli trials until the occurrence of the. Is a positive integer. A Bernoulli trial is a probability experiment whose outcome is random such that there are two possible outcomes (success or failure). Th succe...

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Getting from Binomial to Poisson | Applied Probability and Statistics

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Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. Getting from Binomial to Poisson. August 18, 2011. In many binomial problems, the number of Bernoulli trials. Is large, relatively speaking, and the probability of success. Is small such that. Be the random variable described by this probability distribution. We wish to konw the probability that there are. We will see that upon letting. Is a Poisson probability. Conceivably, ther...

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Derive some facts of the negative binomial distribution | Applied Probability and Statistics

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Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. Derive some facts of the negative binomial distribution. February 28, 2015. The previous post called The Negative Binomial Distribution. Gives a fairly comprehensive discussion of the negative binomial distribution. In this post, we fill in some of the details that are glossed over in that previous post. We derive the following points:. Is a positive real number and. Is the proba...

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Dan Ma | Applied Probability and Statistics

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Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. Skip to secondary content. Author Archives: Dan Ma. Derive some facts of the negative binomial distribution. February 28, 2015. The previous post called The Negative Binomial Distribution. Discuss the several versions of the negative binomial distribution. The negative binomial probabilities sum to one, i.e., the negative binomial probability function is a valid one. Is the proba...

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Applied Probability and Statistics | Applications in Actuarial Science and Enterprise Risk Management

Applied Probability and Statistics. Applications in Actuarial Science and Enterprise Risk Management. Skip to primary content. Skip to secondary content. Derive some facts of the negative binomial distribution. February 28, 2015. The previous post called The Negative Binomial Distribution. Gives a fairly comprehensive discussion of the negative binomial distribution. In this post, we fill in some of the details that are glossed over in that previous post. We derive the following points:. Is the probabili...

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