Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) Book PDF, ePub eBook

Join our eBook service for unlimited books & audiobooks. Get a free 7 day subscription! ↓↓↓↓↓


Book Descriptions:

Understand Up-to-Date Statistical Techniques for Financial and Actuarial Applications

Since the first edition was published, statistical techniques, such as reliability measurement, simulation, regression, and Markov chain modeling, have become more prominent in the financial and actuarial industries. Consequently, practitioners and students must acquire strong mathematical and statistical backgrounds in order to have successful careers.

Financial and Actuarial Statistics: An Introduction, Second Edition enables readers to obtain the necessary mathematical and statistical background. It also advances the application and theory of statistics in modern financial and actuarial modeling. Like its predecessor, this second edition considers financial and actuarial modeling from a statistical point of view while adding a substantial amount of new material.

New to the Second Edition

• Nomenclature and notations standard to the actuarial field


• Excel exercises with solutions, which demonstrate how to use Excel functions for statistical and actuarial computations


• Problems dealing with standard probability and statistics theory, along with detailed equation links


• A chapter on Markov chains and actuarial applications


• Expanded discussions of simulation techniques and applications, such as investment pricing


• Sections on the maximum likelihood approach to parameter estimation as well as asymptotic applications


• Discussions of diagnostic procedures for nonnegative random variables and Pareto, lognormal, Weibull, and left truncated distributions


• Expanded material on surplus models and ruin computations


• Discussions of nonparametric prediction intervals, option pricing diagnostics, variance of the loss function associated with standard actuarial models, and Gompertz and Makeham distributions


• Sections on the concept of actuarial statistics for a collection of stochastic status models

The book presents a unified approach to both financial and actuarial modeling through the use of general status structures. The authors define future time-dependent financial actions in terms of a status structure that may be either deterministic or stochastic. They show how deterministic status structures lead to classical interest and annuity models, investment pricing models, and aggregate claim models. They also employ stochastic status structures to develop financial and actuarial models, such as surplus models, life insurance, and life annuity models.

Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) by Dale S. Borowiak, Arnold F. Shapiro

From reader reviews:

Kristen Clifford:

This Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) book is just not ordinary book, you have it then the world is in your hands. The benefit you obtain by reading this book is usually information inside this book incredible fresh, you will get facts which is getting deeper anyone read a lot of information you will get. This Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) without we realize teach the one who examining it become critical in pondering and analyzing. Don't end up being worry Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) can bring any time you are and not make your handbag space or bookshelves' come to be full because you can have it with your lovely laptop even cellphone. This Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) having excellent arrangement in word and also layout, so you will not sense uninterested in reading.

Judith Smith:

As people who live in the modest era should be revise about what going on or facts even knowledge to make all of them keep up with the era that is always change and progress. Some of you maybe can update themselves by looking at books. It is a good choice for yourself but the problems coming to you is you don't know which one you should start with. This Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) is our recommendation to help you keep up with the world. Why, since this book serves what you want and wish in this era.

Eileen Moore:

As we know that book is important thing to add our know-how for everything. By a reserve we can know everything we would like. A book is a set of written, printed, illustrated as well as blank sheet. Every year was exactly added. This reserve Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs) was filled concerning science. Spend your time to add your knowledge about your technology competence. Some people has various feel when they reading any book. If you know how big advantage of a book, you can experience enjoy to read a reserve. In the modern era like now, many ways to get book that you wanted.

Paul Avila:

What is your hobby? Have you heard this question when you got college students? We believe that that question was given by teacher to their students. Many kinds of hobby, Everyone has different hobby. So you know that little person just like reading or as looking at become their hobby. You need to know that reading is very important along with book as to be the issue. Book is important thing to include you knowledge, except your personal teacher or lecturer. You get good news or update in relation to something by book. Different categories of books that can you go onto be your object. One of them are these claims Financial and Actuarial Statistics: An Introduction, Second Edition (Statistics: a Series of Textbooks and Monogrphs).