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The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5]
The number of claims N is a random variable, which is said to have a "claim number distribution", and which can take values 0, 1, 2, .... etc..For the "Panjer recursion", the probability distribution of N has to be a member of the Panjer class, otherwise known as the (a,b,0) class of distributions.
The cost of the solution produced by the algorithm is within 3/2 of the optimum. To prove this, let C be the optimal traveling salesman tour. Removing an edge from C produces a spanning tree, which must have weight at least that of the minimum spanning tree, implying that w(T) ≤ w(C) - lower bound to the cost of the optimal solution.
Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables. Traditional notation uses a halo system, where symbols are placed as superscript or subscript before or after the main letter. Example notation using the halo system can be seen below.
The slate of Week 10 NFL games includes Steelers-Commanders, Eagles-Cowboys and Lions-Texans. Here's the Sunday schedule and how to watch each game.
Yields: 15. Prep Time: 20 mins. Total Time: 1 hour. Ingredients. 4 tbsp. salted butter. 1 (10-oz.) package mini marshmallows. 7. drops green gel food coloring or 1 tsp. water-based green food coloring
Symbolab is an answer engine [1] that provides step-by-step solutions to mathematical problems in a range of subjects. [2] It was originally developed by Israeli start-up company EqsQuest Ltd., under whom it was released for public use in 2011. In 2020, the company was acquired by American educational technology website Course Hero. [3] [4]
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