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Prerequisite: MATH 112, MATH 306, MATH 405. Offered once a year.
Students are taught techniques for determining whether the data available to an Actuarial Expert are sufficient (credible) for reliable evaluation. This involves techniques for finding the credibility factor. Several methods for valuation are discussed. These include the Bulhmann credibility model, Bayesian approach to estimation, semi-parametric empirical Bayes estimation, and non-parametric empirical Bayes estimation.
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