Probabilistic Analysis of Actuarial Risks

Description

Elementary combinatorics. Basic concepts in risk management. Modeling of individual risks by random variables, types of risks and distributions, study of common random variables and their relevance in actuarial science. Elementary concepts of premiums: moments of a random variable. Grouping of homogeneous risks and central limit theorem, moment generating functions and probability generating functions. Modeling of multiple risks by random variables, joint distributions, convolution products and random sums. Updating information: conditional expectation.