Financial and Actuarial Statistics: An Introduction, Second Edition
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Features
- Contains a new chapter on Markov chain theory with applications to mortality and multiple decrement mortality table modeling
- Adds a discussion on model checking diagnostics, including diagnostics for proposed mortality tables for a specific risk strata and specific claim distributions
- Expands the discussion on option pricing to include "Greek" diagnostics and examples with interpretations
- Extends end-of-chapter problems to five more typical problems covered on the first two SOA and CAS exams
Summary
Presenting a unique interface between statistics and financial/actuarial topics, this second edition provides a solid background for students preparing for a career in actuarial science. It explores novel research areas and adds more problems, along with a new solutions section. This edition also includes a new chapter on Markov chain theory with applications to mortality and multiple decrement mortality table modeling, a presentation of model checking diagnostics that covers diagnostics for mortality tables, and an expanded discussion on option pricing with examples.
Table of Contents
Statistical Concepts. Statistical Techniques. Financial Computational Models. Deterministic Status Models. Future Lifetime Models and Life Tables. Stochastic Status Models. Advanced Stochastic Status Models. Markov Chain Methods. Scenario and Simulation Testing. Further Statistical Considerations. Appendices. References. Index.
Author Bio(s)
Dale S. Borowiak, University of Akron, Ohio, USA
