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| STAT 47900 - Loss Models |
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Credit Hours: 3.00. This material provides an introduction to modeling and covers important actuarial methods that are useful in modeling. Students will be introduced to survival, severity, frequency and aggregate models, and use statistical methods to estimate parameters of such models given sample data. The student will further learn to identify steps in the modeling process, understand the underlying assumptions implicit in each family of models, recognize which assumptions are applicable in a given business application, and appropriately adjust the models for impact of insurance coverage modifications. The student will be introduced to a variety of tools for the calibration and evaluation of the models. Permission of instructor required. Typically offered Spring.
3.000 Credit hours Syllabus Available Levels: Undergraduate, Graduate, Professional Schedule Types: Distance Learning, Lecture Offered By: College of Science Department: Statistics Course Attributes: Upper Division May be offered at any of the following campuses: IUPUI West Lafayette Learning Outcomes: 1. Understand the steps involved in the modeling process and how to carry out these steps in solving business problems. 2. Analyze data from an application in a business context. 3. Determine a suitable model including parameter values. 4 . Provide measures of confidence for decisions based upon the model. Prerequisites: (Undergraduate level STAT 41600 Minimum Grade of C- or Undergraduate level MA 41600 Minimum Grade of C- or Undergraduate level STAT 51600 Minimum Grade of C-) and Undergraduate level STAT 41700 Minimum Grade of C- |
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