Statistical techniques can be used to address new situations.
Datasets with detailed descriptions, sample statistical software scripts in R and SAS, and tips on writing a statistical report, including sample projects, can be found on the book\'s Web site: http: //research.bus.wisc.edu/RegActuaries..
In addition to the fundamentals, this book describes several advanced statistical topics that are particularly relevant to Actuarial and Financial practice, including the analysis of longitudinal, two-part (frequency/severity), and fat-tailed data.
Although no specific knowledge of risk management or finance is presumed, the approach introduces Applications in which statistical techniques can be used to analyze real data of interest.
Readers will learn about these statistical techniques using data on the demand for insurance, lottery sales, foreign exchange rates, and other applications.
This book provides budding actuaries and Financial analysts with a foundation in multiple Regression and time series.
Analysts with a strong statistical background understand that a large data set can represent a treasure trove of information to be mined and can yield a strong competitive advantage.
This is important in a rapidly evolving risk management and Financial world.
Statistical techniques can be used to address new situations
