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Taylor's theorem is named after the mathematician Brook Taylor, who stated a version of it in 1715, [2] although an earlier version of the result was already mentioned in 1671 by James Gregory. [3] Taylor's theorem is taught in introductory-level calculus courses and is one of the central elementary tools in mathematical analysis.
A single missed insurance bill, failed automatic payment or an outdated mortgagee clause listed on policy documents are all possible reasons for a lapse, but the result is the same and could ...
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
The following proof is direct but somewhat ad-hoc. Another proof uses exponential tilting; [2]: Lemma 2.2 proofs with a slightly worse constant are also available using symmetrization.
In fact, for a smooth enough function, we have the similar Taylor expansion (+) = | | ()! + (,), where the last term (the remainder) depends on the exact version of Taylor's formula.
This is an accepted version of this page This is the latest accepted revision, reviewed on 8 January 2025. Equitable transfer of the risk of a loss, from one entity to another in exchange for payment "Insure" redirects here. Not to be confused with Ensure. For other uses, see Insurance (disambiguation). An advertisement for a fire insurance company Norwich Union, showing the amount of assets ...
The Taylor rule is a monetary policy targeting rule. The rule was proposed in 1992 by American economist John B. Taylor [ 1 ] for central banks to use to stabilize economic activity by appropriately setting short-term interest rates . [ 2 ]
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