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Statistical Foundations of Actuarial Learning and its Applications (Paperback, 1st ed. 2023)
Loot Price: R1,444
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Statistical Foundations of Actuarial Learning and its Applications (Paperback, 1st ed. 2023)
Series: Springer Actuarial
Expected to ship within 10 - 15 working days
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This open access book discusses the statistical modeling of
insurance problems, a process which comprises data collection, data
analysis and statistical model building to forecast insured events
that may happen in the future. It presents the mathematical
foundations behind these fundamental statistical concepts and how
they can be applied in daily actuarial practice. Statistical
modeling has a wide range of applications, and, depending on the
application, the theoretical aspects may be weighted differently:
here the main focus is on prediction rather than explanation.
Starting with a presentation of state-of-the-art actuarial models,
such as generalized linear models, the book then dives into modern
machine learning tools such as neural networks and text recognition
to improve predictive modeling with complex features. Providing
practitioners with detailed guidance on how to apply machine
learning methods to real-world data sets, and how to interpret the
results without losing sight of the mathematical assumptions on
which these methods are based, the book can serve as a modern basis
for an actuarial education syllabus.
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